{ "documentInfo": { "documentType": "https://xbrl.org/2021/xbrl-json", "features": { "xbrl:canonicalValues": true }, "namespaces": { "borregaard": "https://www.borregaard.com", "ifrs-full": "https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full", "iso4217": "http://www.xbrl.org/2003/iso4217", "scheme": "http://standards.iso.org/iso/17442", "xbrl": "https://xbrl.org/2021", "xbrli": "http://www.xbrl.org/2003/instance" }, "taxonomy": [ "https://www.borregaard.com/borregaardasa-2024-12-31.xsd" ] }, "facts": { "reg-ix-1": { "value": "7502000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RevenueFromSaleOfGoods", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-2": { "value": "7024000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RevenueFromSaleOfGoods", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-3": { "value": "115000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherRevenue", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-4": { "value": "108000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherRevenue", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-5": { "value": "7617000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Revenue", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-6": { "value": "7132000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Revenue", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-7": { "value": "2732000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RawMaterialsAndConsumablesUsed", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-8": { "value": "2545000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RawMaterialsAndConsumablesUsed", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-9": { "value": "1388000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:EmployeeBenefitsExpense", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-10": { "value": "1304000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:EmployeeBenefitsExpense", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-11": { "value": "1623000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:MiscellaneousOtherOperatingExpense", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-12": { "value": "1502000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:MiscellaneousOtherOperatingExpense", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-13": { "value": "556000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:DepreciationAndImpairmentPropertyPlantAndEquipment", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-14": { "value": "485000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:DepreciationAndImpairmentPropertyPlantAndEquipment", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-15": { "value": "5000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:AmortisationIntangibleAssets", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-16": { "value": "5000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:AmortisationIntangibleAssets", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-17": { "value": "-30000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherOperatingIncomeExpense", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-18": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherOperatingIncomeExpense", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-19": { "value": "1283000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-20": { "value": "1291000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-21": { "value": "366000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:FinanceIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-22": { "value": "409000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:FinanceIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-23": { "value": "548000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:FinanceCosts", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-24": { "value": "567000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:FinanceCosts", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-25": { "value": "-22000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-26": { "value": "-9000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-27": { "value": "-204000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:FinancialItemsNet", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-28": { "value": "-167000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:FinancialItemsNet", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-29": { "value": "1079000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-30": { "value": "1124000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-31": { "value": "250000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-32": { "value": "268000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-33": { "value": "829000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-34": { "value": "856000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-35": { "value": "6000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-36": { "value": "-14000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-37": { "value": "823000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-38": { "value": "870000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-39": { "value": "1874000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:Ebitda", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-40": { "value": "1781000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:Ebitda", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-41": { "value": "8.25", "decimals": 2, "dimensions": { "concept": "ifrs-full:BasicEarningsLossPerShare", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK/xbrli:shares" } }, "reg-ix-42": { "value": "8.73", "decimals": 2, "dimensions": { "concept": "ifrs-full:BasicEarningsLossPerShare", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK/xbrli:shares" } }, "reg-ix-43": { "value": "8.25", "decimals": 2, "dimensions": { "concept": "ifrs-full:DilutedEarningsLossPerShare", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK/xbrli:shares" } }, "reg-ix-44": { "value": "8.71", "decimals": 2, "dimensions": { "concept": "ifrs-full:DilutedEarningsLossPerShare", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK/xbrli:shares" } }, "reg-ix-45": { "value": "829000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-46": { "value": "856000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-47": { "value": "28000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-48": { "value": "46000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-49": { "value": "28000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-50": { "value": "46000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-51": { "value": "-296000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxCashFlowHedges", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-52": { "value": "-129000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxCashFlowHedges", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-53": { "value": "-89000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxHedgesOfNetInvestmentsInForeignOperations", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-54": { "value": "-25000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxHedgesOfNetInvestmentsInForeignOperations", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-55": { "value": "124000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-56": { "value": "45000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-57": { "value": "-261000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-58": { "value": "-109000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-59": { "value": "-233000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-60": { "value": "-63000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-61": { "value": "596000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-62": { "value": "793000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-63": { "value": "10000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-64": { "value": "-12000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-65": { "value": "586000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-66": { "value": "805000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-67": { "value": "88000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IntangibleAssetsAndGoodwill", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-68": { "value": "84000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IntangibleAssetsAndGoodwill", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-69": { "value": "5026000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PropertyPlantAndEquipment", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-70": { "value": "4661000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PropertyPlantAndEquipment", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-71": { "value": "508000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RightofuseAssetsThatDoNotMeetDefinitionOfInvestmentProperty", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-72": { "value": "527000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RightofuseAssetsThatDoNotMeetDefinitionOfInvestmentProperty", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-73": { "value": "120000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DeferredTaxAssets", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-74": { "value": "1000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DeferredTaxAssets", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-75": { "value": "417000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:InvestmentAccountedForUsingEquityMethod", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-76": { "value": "289000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:InvestmentAccountedForUsingEquityMethod", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-77": { "value": "404000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherNoncurrentAssets", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-78": { "value": "436000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherNoncurrentAssets", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-79": { "value": "6563000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentAssets", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-80": { "value": "5998000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentAssets", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-81": { "value": "1498000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:InventoriesTotal", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-82": { "value": "1447000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:InventoriesTotal", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-83": { "value": "1441000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentReceivables", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-84": { "value": "1201000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentReceivables", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-85": { "value": "82000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-86": { "value": "469000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-87": { "value": "3021000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentAssets", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-88": { "value": "3117000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentAssets", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-89": { "value": "9584000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Assets", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-90": { "value": "9115000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Assets", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-91": { "value": "5041000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:EquityAttributableToOwnersOfParent", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-92": { "value": "4855000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:EquityAttributableToOwnersOfParent", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-93": { "value": "49000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncontrollingInterests", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-94": { "value": "39000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncontrollingInterests", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-95": { "value": "5090000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-96": { "value": "4894000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-97": { "value": "148000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DeferredTaxLiabilities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-98": { "value": "130000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DeferredTaxLiabilities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-99": { "value": "442000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:ProvisionsAndOtherLiabilities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-100": { "value": "271000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:ProvisionsAndOtherLiabilities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-101": { "value": "2035000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:LongtermBorrowings", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-102": { "value": "2016000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:LongtermBorrowings", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-103": { "value": "2625000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentLiabilities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-104": { "value": "2417000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentLiabilities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-105": { "value": "288000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-106": { "value": "246000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-107": { "value": "178000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentTaxLiabilitiesCurrent", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-108": { "value": "198000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentTaxLiabilitiesCurrent", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-109": { "value": "1403000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherCurrentLiabilities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-110": { "value": "1360000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherCurrentLiabilities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-111": { "value": "1869000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentLiabilities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-112": { "value": "1804000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentLiabilities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-113": { "value": "9584000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:EquityAndLiabilities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-114": { "value": "9115000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:EquityAndLiabilities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-115": { "value": "1079000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-116": { "value": "1124000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-117": { "value": "561000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-118": { "value": "490000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-119": { "value": "326000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInWorkingCapital", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-120": { "value": "-205000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInWorkingCapital", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-121": { "value": "-22000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-122": { "value": "-9000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-123": { "value": "268000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-124": { "value": "265000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-125": { "value": "1068000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-126": { "value": "1563000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-127": { "value": "711000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-128": { "value": "667000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-129": { "value": "19000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherInflowsOutflowsOfCashClassifiedAsInvestingActivities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-130": { "value": "9000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherInflowsOutflowsOfCashClassifiedAsInvestingActivities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-131": { "value": "150000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-132": { "value": "171000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-133": { "value": "-842000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-134": { "value": "-829000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-135": { "value": "374000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaidClassifiedAsFinancingActivities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-136": { "value": "324000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaidClassifiedAsFinancingActivities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-137": { "value": "52000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProceedsFromSaleOrIssueOfTreasuryShares", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-138": { "value": "49000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProceedsFromSaleOrIssueOfTreasuryShares", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-139": { "value": "98000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PaymentsToAcquireOrRedeemEntitysShares", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-140": { "value": "92000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PaymentsToAcquireOrRedeemEntitysShares", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-141": { "value": "109000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:GainLossOnHedgesOfNetInvestmentsInSubsidiaries", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-142": { "value": "38000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:GainLossOnHedgesOfNetInvestmentsInSubsidiaries", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-143": { "value": "529000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:NetPaidToShareholders", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-144": { "value": "405000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:NetPaidToShareholders", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-145": { "value": "724000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-146": { "value": "843000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-147": { "value": "500000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-148": { "value": "800000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-149": { "value": "-74000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:ChangeInInterestBearingReceivablesOtherLiabilities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-150": { "value": "-33000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:ChangeInInterestBearingReceivablesOtherLiabilities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-151": { "value": "150000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:ChangeInNetInterestBearingLiabilities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-152": { "value": "10000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:ChangeInNetInterestBearingLiabilities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-153": { "value": "-679000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-154": { "value": "-415000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-155": { "value": "-453000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-156": { "value": "319000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-157": { "value": "429000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-158": { "value": "111000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-159": { "value": "-453000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-160": { "value": "319000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-161": { "value": "21000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-162": { "value": "-1000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-163": { "value": "-3000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-164": { "value": "429000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-165": { "value": "* INVESTMENTS BY CATEGORY Amounts in NOK million Note 2024 2023 Replacement investments 17, 18 598 550 Expansion investments 1 17, 18 113 117 Investments in property, plant and equipment and intangible assets* 711 667 Investments in associate companies & bio-based start-ups 6 150 171 Total investments 861 838 The cash \ufb02ow statement has been prepared in accordance with the indirect method and re\ufb02ects cash \ufb02ows from operating, investing and \ufb01nancing activities and explains changes in \u201cCash and cash equivalents\u201c during the reporting period. ", "dimensions": { "concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-166": { "value": "598000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:VariationOfReplacementInvestments", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-167": { "value": "550000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:VariationOfReplacementInvestments", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-168": { "value": "113000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:VariationOfExpansioninvestments", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-169": { "value": "117000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:VariationOfExpansioninvestments", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-170": { "value": "711000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-171": { "value": "667000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-172": { "value": "150000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-173": { "value": "171000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-174": { "value": "861000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:VariationOfInvestmentsPropertyPlantAndEquipmentAndIntangibleAssets", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-175": { "value": "838000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:VariationOfInvestmentsPropertyPlantAndEquipmentAndIntangibleAssets", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-367": { "value": "The cash \ufb02ow statement has been prepared in accordance with the indirect method and re\ufb02ects cash \ufb02ows from operating, investing and \ufb01nancing activities and explains changes in \u201cCash and cash equivalents\u201c during the reporting period. NOTE 01 GENERAL INFORMATION The consolidated \ufb01nancial statements for Borregaard ASA (Borregaard/Group), including notes, for the year 2024, were endorsed by the Board of Directors (the Board) of Borregaard ASA on 17 March 2025. Borregaard ASA is a public limited company and its of\ufb01ces are located in Hjalmar Wessels vei 6, 1721 Sarpsborg, Norway. Borregaard develops, produces and markets specialised biochemicals and biomaterials to a wide range of customers in global niches. Borregaard\u2019s business model is linked to its advanced biore\ufb01nery that utilises the different components in the biomass to produce high value-added products that to a large extent can substitute petrochemical alternatives. Borregaard is an international company with production units and sales of\ufb01ces in the world\u2019s most important industrial markets. The \ufb01nancial statements for 2024 have been prepared and presented in full compliance with the International Financial Reporting Standards (IFRS), as adopted by the EU. The valuation and recognition of the items in the \ufb01nancial statements have been carried out in accordance with current IFRS standards. The consolidated \ufb01nancial statements contain certain items that are crucial to understand the \ufb01nancial results for 2024. The most important principles are described below. Borregaard is exposed to currency risk for most of its sales, primarily in USD and EUR. A substantial part of this exposure, de\ufb01ned as estimated net cash \ufb02ow in USD or EUR, is routinely hedged on a rolling basis with a nine-month time horizon. Subject to certain criteria being met, the hedging horizon may be extended to three years in order to secure competitive margins. On the revenue side, most of Borregaard\u2019s business segments are exposed to price risk in international markets. The accounting policies regarding hedging are described in Note 29 and information regarding currency risks is provided in Note 28. Other income and expenses 1 (OIE) are presented as part of operating pro\ufb01t in the Income Statement but are presented after EBITDA 1 in the segment information in Note 7, which is reported according to management reporting. See Note 13 for details and speci\ufb01cations. The accounting policies for business areas are described in segment information for the various business areas in Note 7. Borregaard has business areas as operating segments. The operating segments correspond to the way in which the business areas report \ufb01gures to the Group Executive Management (key decision maker). The segments are BioSolutions, BioMaterials and Fine Chemicals. NOTE 02 BASIS FOR PREPARATION Borregaard ASA was incorporated as a public limited liability company on 22 August 2012. The Borregaard Group includes subsidiaries, a joint venture and an associate company directly and indirectly owned by Borregaard ASA. The consolidated \ufb01nancial statements are primarily based on the historical cost principle. Interest income is recognised in the income statement when earned, while any dividends are recognised on the date they are approved for payment. Interest income and dividends are presented under \u201c\ufb01nancial income\u201d. The Group has at all times various contracts for the sale and purchase of goods and services in connection with the production. These contracts are regarded as part of Borregaard\u2019s ordinary operating activities and are therefore not speci\ufb01ed or indicated in any other way. The contracts are deemed to be strictly sale or purchase contracts with no embedded derivatives. The company also enters into currency derivatives contracts. Hedging instruments which satisfy the criteria for hedge accounting, are reported at fair value in the statement of \ufb01nancial position and changes in fair value are recognised in comprehensive income. Derivatives which do not satisfy the criteria for hedge accounting, are recognised at fair value through pro\ufb01t and loss. Assets that no longer justify their value are written down to the recoverable amount, which is the higher of value in use and fair value minus selling costs. The accrual accounting principle and the going concern assumption are underlying assumptions for preparing the combined \ufb01nancial statements. An asset is classi\ufb01ed as current when it is part of a normal operating cycle, it is held primarily for trading purposes, it expects to realise within twelve months or it consists of unrestricted cash or cash equivalents. A liability is classi\ufb01ed as current when it is part of a normal operating cycle, it is held primarily for trading purposes, is due to be settled within twelve months or it does not have an unconditional right to defer settlement of the liability for at least twelve months after the reporting period. Other items are non-current. A dividend does not become a liability until it has been formally approved by the General Meeting. The amortisation of intangible assets and other income and expenses 1 are presented on separate lines, broken down by segment. All amounts are in NOK million unless otherwise stated. The functional currency of the parent company (Borregaard ASA) is NOK and the Group\u2019s reporting currency is NOK. Currency exchange rates as of 31 December are used in the balance sheet, whereas average currency exchange rates are used in the pro\ufb01t and loss. Consolidation principles The consolidated \ufb01nancial statements show the overall \ufb01nancial results and the overall \ufb01nancial position when the parent company Borregaard ASA and its controlling interests are presented as a single economic entity. All the companies have applied consistent principles and all internal matters between the companies have been eliminated. Interests in companies in which the Group alone has control (subsidiaries) have been fully consolidated, line by line, in the consolidated \ufb01nancial statements from the date the Group acquired control. These entities will be fully consolidated until the date such control ends. An investor controls an investee when the investor is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. If the Group controls a subsidiary, the non-controlling interests\u2019 share of pro\ufb01t or loss after tax and their share of equity are presented on separate lines. Interests in companies in which the Group together with others has joint control or has an ownership between 20\u201350% (joint ventures and associate companies, see Note 6) are consolidated based on the equity method. The pro\ufb01t or loss from the joint venture and associate companies is part of \ufb01nancial items. Business combinations are accounted for using the acquisition method. In connection with the acquisition of a subsidiary, the establishment of a joint venture or any acquisitions of signi\ufb01cant in\ufb02uence in associates, a purchase price allocation is carried out. The acquisition is reported in the \ufb01nancial statements from the date the Group has control. The date of control is normally the date on which the acquisition agreement takes effect and has been approved by all relevant authorities. Assets and liabilities are measured at fair value at the time of acquisition. If there are non-controlling interests in the acquired company, these will be measured at their share of identi\ufb01ed assets and liabilities. Goodwill allocated to non-controlling interests is considered separately in each acquisition. Goodwill is determined as the excess of the purchase price and the amount recognised as non-controlling interest over the fair value of identi\ufb01ed assets and liabilities assumed. Other matters Contingent liabilities and contingent assets. A contingent liability or asset is a possible obligation or a possible asset whose existence is uncertain and will be con\ufb01rmed by the occurrence or non-occurrence of a future event, such as the outcome of legal proceedings or the \ufb01nal settlement of an insurance claim. Liabilities are recognised in the \ufb01nancial statements if there is a more than 50% probability that the liability has arisen; if the probability is lower, the matter is disclosed in notes to the \ufb01nancial statements unless the probability of payment is remote. An asset will only be recognised in the statement of \ufb01nancial position if it is virtually certain (95%) that the Group will realise the asset. The disclosure requirement applies to other contingent assets. NOTE 05 IMPAIRMENT ASSESSMENTS Goodwill and intangible assets with an inde\ufb01nite useful life must be tested annually for impairment to assess whether the values are recoverable. Borregaard carries out this test prior to preparing and presenting its \ufb01nancial statements for the 3 rd quarter. If there are indications of impairments, the assets are tested immediately. A new impairment test is carried out in the 4 th quarter, when necessary, for instance if the underlying assumptions have changed. Borregaard has substantial non-current assets in the form of tangible (property, plant and equipment) and some minor intangible assets. An explanation of the details of and changes in these assets is presented separately in Note 17 and 18. Estimate uncertainty, in some cases considerable, attaches to both property, plant and equipment and intangible assets. Both valuation and estimated useful lifetime are based on future information that is always subject to a great degree of uncertainty. Borregaard routinely monitors assets and if there are indications that the value of an asset is no longer recoverable, an impairment test will be carried out to determine whether the asset can still justify its carrying value. If new estimates conclude that the value is no longer recoverable, the asset is written down to the recoverable amount, i.e. the greater of the net sales value and the value in use (discounted cash \ufb02ow). Cash \ufb02ows relating to the assets are identi\ufb01ed (see table below) and discounted. Future cash \ufb02ow is based on speci\ufb01ed assumptions and the plans adopted by the entity. If the discounted value of future cash \ufb02ows is lower than the capitalised value of the unit\u2019s capital employed, the assets are written down to the recoverable amount. If the discounted value is higher than the capital employed, this means that the value of the intangible asset or goodwill is recoverable. Borregaard\u2019s goodwill is related to the prior acquisition of Borregaard Czech and no impairment charges are identi\ufb01ed: GOODWILL Amounts in NOK million 2024 2023 Borregaard Czech S. R. O 39 37 Total goodwill 39 37 Estimate assumptions and cash-generating units A cash-generating unit (CGU) is the lowest level at which independent cash \ufb02ows can be measured. The biore\ufb01nery in Sarpsborg is considered to be one CGU as the production facilities are integrated and the production process relies on the same raw material (wood). Based on the forecasts, expectations and assumptions that were applied, Borregaard Czech\u2019s capitalised value of goodwill at 31 December 2024 and the fair value exceeds the book value. Calculations of future cash \ufb02ows are based on a number of assumptions regarding both economic trends and the estimated useful life. Borregaard is affected by \ufb02uctuating markets and estimates made in weak markets can differ substantially from estimates made in stronger markets. The discount rate applied is based on the Group\u2019s cost of capital, which has been estimated to be 10% before tax, based on a weighted average of required rates of return for the Group\u2019s equity and debt (WACC). The required rate of return on the Group\u2019s equity is estimated by using the capital asset pricing model (CAPM). The required rate of return on debt is estimated on the basis of a long-term risk-free interest rate to which is added a credit margin derived from Borregaard\u2019s marginal long-term borrowing rate. The discount rate is adjusted for country risk, the level of in\ufb02ation and operational risk, depending on the particular value being calculated. Future cash \ufb02ows are estimated on the basis of the budget for next year and the following two forecast years. As from year four a terminal value is calculated. Cash \ufb02ow estimates are sensitive to changes in sales revenues, raw material and energy prices and the coherent ability to maintain margin assumptions. The sensitivity of the estimates, even when there is a reasonable possibility of a change in assumptions, did not give grounds for impairment charges. NOTE 08 REVENUES AND GEOGRAPHICAL BREAKDOWN Revenues are recognised to depict the transfer of promised goods or services to customers in an amount that re\ufb02ects the consideration to which the entity expects to be entitled in exchange for those goods or services. IFRS 15 applies to all revenue contracts and provides a model for the recognition and measurement of sales of some non-\ufb01nancial assets (e.g. disposals of property, plant and equipment). For contracts with customers, sale of Borregaard\u2019s products is generally expected to be the only performance obligation. The Group\u2019s revenue recognition occurs at a point in time when control of the asset is transferred to the customer, generally on delivery of the goods. Borregaard also have some contracts that include volume rebates to some customers. The Group currently recognises rebates based on the most likely amount method which is also in line with IFRS 15. Borregaard operates in several countries and below is a summary showing the geographical breakdown of non-current operating assets, investments, number of man-years based on the geographical location of the operation. Sales revenues are based on the location of the customers. See Note 22 for customers\u2019 payment terms. Borregaard has a policy to use de\ufb01ned contribution pension plans. However, there are some de\ufb01ned bene\ufb01t pension plans, primarily in the USA and Norway. De\ufb01ned contribution plans In the de\ufb01ned contribution pension plans, the company is responsible for making an agreed contribution to the employee\u2019s pension assets. The future pension will be determined by the amount of the contributions and the return on the pension savings. Once the contributions have been paid, there are no further payment obligations attached to the de\ufb01ned contribution pension. As a result, there is no liability recorded in the statement of \ufb01nancial position. The pension costs related to de\ufb01ned contribution plans will be equal to the contributions to employees\u2019 pension savings in each reporting period. Contribution plans also comprise pension plans that are common to several companies and where the pension premium is determined independently of the demographic pro\ufb01le in the individual companies (multi-employer plans). The company is obligated to follow the Act on Mandatory company pensions in Norway and the company meets the requirements. De\ufb01ned bene\ufb01t plans De\ufb01ned bene\ufb01t plans are measured at the present value of accrued future pension bene\ufb01ts at the end of the reporting period. Pension plan assets are measured at their fair value. Changes in accounting estimates for de\ufb01ned bene\ufb01t plans are recognised in other comprehensive income and the net interest costs for the period is calculated by using the discount rate for the liability at the beginning of the period on the net liability. As such, the net interest cost consists of interest on the liability and the return on the plan assets, whereas both have been calculated by using the discount rate. Changes in net pension liabilities as a result of payments of premiums and pension payments have been taken into consideration. The difference between the actual return and the accounted return is recognised continuously through other comprehensive income. The current service cost and net interest income/costs are recognised immediately. The \ufb01nancial part of the pension cost is recognised as part of \ufb01nancial items, the other part is recognised as payroll expenses in the income statement. Changes in value, both in assets and liabilities, are recognised through other comprehensive income. Gains or losses on the curtailment or settlement of a de\ufb01ned bene\ufb01t plan are recognised through pro\ufb01t and loss when the curtailment or settlement occurs. A curtailment occurs when the Group decides to make a material reduction in the number of employees covered by a plan or amends the terms of a de\ufb01ned bene\ufb01t plan such that a considerable part of the current employees\u2019 future earnings will no longer qualify for bene\ufb01ts or will qualify only for reduced bene\ufb01ts. The introduction of a new de\ufb01ned bene\ufb01t plan or an improvement to the current de\ufb01ned bene\ufb01t plan will lead to changes in the pension liabilities. These will be charged to expenses in a straight line during the period until the effect of the change has been accrued. The introduction of new plans or changes to existing plans which take place with retroactive effect so that the employees immediately accrue a paid-up policy (or a change in a paid-up policy) are recognised in the statement of comprehensive income immediately. Gains or losses linked to curtailments or terminations of pension plans are recognised through pro\ufb01t and loss when they arise. Borregaard has pension plans that are classi\ufb01ed as funded bene\ufb01t plans and unfunded bene\ufb01t plans. Expected contributions for the next year, 2025, to the de\ufb01ned bene\ufb01t plan obligation is NOK 1 million. The largest part of the bene\ufb01t plans are in the USA and Norway. IFRS 16 sets out the principles for the recognition, measurement, presentation and disclosure of leases and requires lessees to account for all leases under a single on-balance sheet model. The Group recognises right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognised, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets. If ownership of the leased asset transfers to the Group at the end of the lease term or the cost re\ufb02ects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. At the commencement date of the lease, the Group recognises lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include \ufb01xed payments (including in substance \ufb01xed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees, if any. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group and payments of penalties for terminating the lease, if the lease term re\ufb02ects the Group exercising the option to terminate. Variable lease payments that do not depend on an index or a rate are recognised as expenses (unless they are incurred to produce inventories) in the period in which the event or condition that triggers the payment occurs. In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to re\ufb02ect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modi\ufb01cation, a change in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an index or rate used to determine such lease payments) or a change in the assessment of an option to purchase the underlying asset. Discount rates used: Machinery, vehicles and equipment: Incremental borrowing rate. Buildings: Implicit interest rate if available. The incremental borrowing rate is based on interbank interest rate (NIBOR, EURIBOR or SOFR) plus margin plus country risk mark-up. The Group\u2019s lease of buildings have lease terms that vary from 1 to 25 years, and several agreements involve a right of renewal which may be exercised during the last period of the lease terms. The Group assesses at the commencement whether it is reasonably certain to exercise the renewal right. Group\u2019s lease liabilities are included in interest-bearing liabilities. See Note 27. The standard includes two recognition exemptions for lessees \u2013 leases of \u2019low-value\u2019 assets (e.g. personal computers) and short-term leases (i.e. leases with a lease term of 12 months or less) that Borregaard has adopted. Lease payments on short-term leases and leases of low-value assets are recognised as expense on a straight-line basis over the lease term. Interest income and interest costs on loans and receivables are calculated using the effective interest method. Commitment fees and costs related to borrowings are reported as part of interest costs. The \ufb01nancial element of pension costs is included in other \ufb01nance costs and is disclosed in Note 10. Borrowing costs related to assets under construction are recognised in the statement of \ufb01nancial position together with the asset. Foreign currency gains or losses arising from operational assets and liabilities, and the hedging of such, are reported as operating revenues or operating costs. Other foreign currency gains or losses are reported as foreign exchange gain and foreign exchange loss. The foreign currency gains or losses related to net investments in subsidiaries are disclosed in Note 29. Income tax expense consists of the total of current taxes and changes in deferred tax. Current taxes are recognised in the \ufb01nancial statements at the amount that is expected to be paid to the tax authorities based on taxable income reported for entities included in the combined \ufb01nancial statements. Current taxes and changes in deferred tax are taken to other comprehensive income to the extent that they relate to items that are included in other comprehensive income. Deferred tax in the statement of \ufb01nancial position have been calculated at the nominal tax rate based on temporary differences between accounting and tax basis of assets and liabilities on the statement of \ufb01nancial position date. Deferred tax liability relating to goodwill has not been recognised in the statement of \ufb01nancial position. Deferred tax assets are continuously assessed and are only recognised in the statement of \ufb01nancial position to the extent it is probable that future taxable pro\ufb01t will be large enough for the asset to be usefully applied. Deferred tax liability and deferred tax assets are offset as far as this is possible under taxation legislation and regulations. Earnings per share are calculated on the basis of pro\ufb01t for the year after non-controlling interests. As a result of the Borregaard Group\u2019s option programme (see Note 9), outstanding shares may be diluted when options are exercised. In order to take into account this future increase in the number of shares outstanding, diluted earnings per share are calculated in addition to basic earnings per share. In this calculation, the average number of shares outstanding is adjusted to take into account the estimated dilutive effect of the option programme. Capitalised expenditure on internally generated or specially adapted computer programmes is presented as intangible assets. The reinvestment need of specially adapted computer programmes is similar to that of other tangible assets, and the amortisation of intangible assets are presented together with Borregaard\u2019s other depreciation. Research and development (R&D) expenditure is the expenses incurred by Borregaard in conducting research and development, including studies of existing or new products and production processes in order to secure future earnings. Expenditure on research is always expensed as incurred, while expenditure on development is recognised in the statement of \ufb01nancial position if the underlying economic factors are identi\ufb01able and represent probable future economic bene\ufb01ts of which Borregaard has control. Borregaard has a large number of projects in process at all times, but the number of projects that end in capitalisation is limited. This is due to the considerable uncertainty throughout the decision-making process and the fact that only a small percentage of all projects culminate in commercial products. Furthermore, the portion of the total project expenses that qualify for recognition in the statement of \ufb01nancial position are relatively small, as it is only from the time the decision to develop the product is made it can be capitalised, and that decision-making point comes at a late stage of the process. The fair value of intangible assets acquired by the company through business combinations is capitalised. Intangible assets with inde\ufb01nite life will not be amortised while other intangible assets will be amortised over their useful life. Goodwill is initially measured at cost, being the excess of the aggregate of the transferred and the amount recognised for non-controlling interest over the net identi\ufb01ed asset acquired and liabilities assumed. If this consideration is lower than the fair value of the net assets of the subsidiary acquired, the difference is recognised in income statement. Amortisable intangible assets are amortised on a straight-line basis at the following rates: Development 20% and other intangible assets 10\u201315%. Development consists mainly of internal resources being involved in development projects. IT consists mainly of external costs. Emission rights Government granted and purchased CO\u2082 emission allowances expected to be used towards Borregaard\u2019s own emissions are recognised as intangible assets at nominal value (cost). In case there are actual CO\u2082 emissions exceeding the level covered by emission rights, those are recognised as a liability. Sale of government granted CO\u2082 emission rights are recognised at the time of sale at the transaction price. See table below for information regarding sale of, obligation to deliver and owned emission rights. Market price of the emission rights was EUR 72.78 as of 31 December 2024 (EUR 80.37). Property, plant and equipment are tangible assets intended for production, delivery of goods or administrative purposes and have a lasting useful life. They are recognised in the statement of \ufb01nancial position at cost minus any accumulated depreciation and impairment. Annual major maintenance stops are capitalised as part of property, plant and equipment and depreciated over a period of 12 months. All other maintenance and repairs are expensed under operating expenses as and when the maintenance is carried out, while expenditure on replacements or improvements is added to the cost price of the assets. Borrowing costs related to the construction of the Group\u2019s own property, plant and equipment are capitalised as part of the cost of the asset. Property, plant and equipment are depreciated on a straight-line basis over the useful life, at the following rates: buildings 2\u20135%, machinery, \ufb01xtures and \ufb01ttings mainly 4\u201320%, vehicles 15\u201325% and IT equipment 15\u201333%. The period of depreciation is reviewed each year and if there are changes in useful life, depreciation is adjusted. If there is any indication that an asset may be impaired, the asset will be written down to the recoverable amount if the recoverable amount is lower than the carrying value. The residual value is also calculated and if it is higher than the carrying value, depreciation is stopped. This applies in particular to buildings. The Group is committed to ful\ufb01l contracts amounting to NOK 34 million which is not recorded in the statement of \ufb01nancial position as of 31 December 2024 (NOK 68 million as of 31 December 2023). Investments according to the transition plan (page 57) are not considered to have an impact on the useful life or the value of the existing property, plant, and equipment. Loans, as well as trade receivables, are held to collect contractual cash \ufb02ows and are expected to give rise to cash \ufb02ows solely representing payments of principal and interest. The Group analysed the contractual cash \ufb02ow characteristics of those instruments and concluded that they meet the criteria for amortised cost measurement under IFRS 9. The Group applied the simpli\ufb01ed approach and record lifetime expected losses on all trade receivables. The Group has considered that due to the historical low level of credit losses, the loss allowance will not be materially different from the current level. Transactions in foreign currencies are recognised at the exchange rate on the date of the transaction, while monetary items in foreign currencies are presented at the exchange rate on the balance sheet date, and any gain/ loss is reported in the income statement as \ufb01nancial items. Revenues and expenses in subsidiaries with a functional currency different from the Group\u2019s presentation currency are translated monthly at the average exchange rate for the month and accumulated. Statement of \ufb01nancial position items in subsidiaries with a different functional currency are translated at the exchange rate on the balance sheet date. Translation differences are reported in comprehensive income. The Group uses the following hierarchy for determining and disclosing the fair value of \ufb01nancial instruments, by valuation technique: Level 1: Quoted market prices in an active market (that are unadjusted) for identical assets and liabilities. Level 2: Valuation techniques (for which the lowest level input that is signi\ufb01cant to the fair value measurement is directly or indirectly observable). Level 3: Valuation techniques (for which the lowest level input that is signi\ufb01cant to the fair value measurement is unobservable). The foreign exchange element in currency forward contracts is measured at observable market prices using the foreign exchange rate set by Norges Bank, Norway\u2019s central bank. Different maturity dates add an interest rate element resulting in an estimated fair value of the currency forward contracts. Borregaard had one item de\ufb01ned as level 1 at the end of 2023. This item was transferred from level 1 to level 2 in the measurement hierarchy during 2024. A description of how the derivatives are measured is provided in Note 29. Receivables are initially recognised at fair value which is generally the original invoice amount. For trade receivables see Note 22. The interest rate element is disregarded if it is insigni\ufb01cant, which is the case for the majority of receivables. Inventories are measured at the lower of cost and net realisable value. Purchased goods are measured at purchase cost according to the FIFO principle, while internally manufactured \ufb01nished goods and work in progress are measured at production cost. Deductions are made for obsolescence. Net realisable value is the estimated selling price minus selling costs. Receivables are initially recognised at fair value which is generally the original invoice amount. For trade receivables the Group applies a simpli\ufb01ed approach in calculating expected credit losses. Therefore, the Group does not track changes in credit risk, but instead recognises a loss allowance based on lifetime expected credit losses at each reporting date. The Group has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors speci\ufb01c to the debtors and the economic environment. Cash and cash equivalents are held for the purpose of meeting short-term \ufb02uctuations in liquidity rather than for investment purposes. Cash and cash equivalents consist of cash, bank deposits and current deposits with a maturity of three months or less. Company policy is to channel excess liquidity in wholly owned subsidiaries to Borregaard\u2019s cash pools (with DNB and Handelsbanken) or placed as deposits with Borregaard AS. In some countries, however, there are legal or technical impediments on participation in Borregaard\u2019s cash pools or making deposits with Borregaard AS. Provisions are recognised in the \ufb01nancial statements in the case of onerous contracts or when restructuring measures have been adopted. Future operating losses will not be part of the provisions. In the case of restructuring provisions, there must be a detailed plan that identi\ufb01es which parts of the business are to be restructured. The location and number of employees affected, and a valid expectation must have been created among those concerned that the restructuring will be carried out. In addition, it must be possible to provide a reliable estimate of the amount of the liability. It is a condition that the restructuring materially changes the size of the business or the way in which it is operated. The provision is calculated on the basis of the best estimate of expenses. If the effect is material, anticipated future cash \ufb02ows will be discounted using a current pre-tax interest rate that re\ufb02ects the risks speci\ufb01c to the provision. Loans and receivables are carried at amortised cost. Thus, changes in fair value resulting from changes in interest rates during the interest rate period are not reported in the income statement. Borrowing costs related to the long-term funding are capitalised over the period of the loan facilities. Derivatives are measured at fair value on the balance sheet date and reported as receivables or liabilities. Changes in fair value are reported in the income statement in cases where the derivative is not part of a hedge relationship that satis\ufb01es the criteria for hedge accounting. Embedded derivatives in contracts are identi\ufb01ed and measured separately. Purchases and sales of derivatives are recognised at trade date. The Group applies IFRS 9 on its \ufb01nancial instruments. Hedge accounting The Group\u2019s existing hedge relationships designated in effective hedging relationships qualify for hedge accounting under IFRS 9. The Group uses the following criteria for classifying a derivative or another \ufb01nancial instrument as a hedging instrument: (1) the hedging instrument is expected to be highly effective in offsetting the changes in fair value or the cash \ufb02ow of an identi\ufb01ed object, (2) the hedging effectiveness can be measured reliably, (3) satisfactory documentation is established before entering into the hedging instrument, showing among other things that the hedging relationship is effective, (4) for cash \ufb02ow hedges, that the future transaction is considered to be highly probable, and the hedging relationship is evaluated regularly and is considered to be effective. Government grants are recognised in the \ufb01nancial statements when there is a reasonable assurance that the requirements of the grants will be complied with and that the grants will be received. Grants related to income are presented as reduction of expenses they are intended to compensate for. Government grants that relate to assets are recognised as a reduction in the acquisition cost of the asset. The grant reduces the depreciation of the asset. ", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-176": { "value": "The cash \ufb02ow statement has been prepared in accordance with the indirect method and re\ufb02ects cash \ufb02ows from operating, investing and \ufb01nancing activities and explains changes in \u201cCash and cash equivalents\u201c during the reporting period. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-177": { "value": "100000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-178": { "value": "1346000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:NOK" } }, "reg-ix-179": { "value": "881000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-180": { "value": "2129000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "reg-ix-181": { "value": "-312000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "borregaard:HedgingReserveMember", "unit": "iso4217:NOK" } }, "reg-ix-182": { "value": "208000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:NOK" } }, "reg-ix-183": { "value": "42000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:NOK" } }, "reg-ix-184": { "value": "4394000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:NOK" } }, "reg-ix-185": { "value": "51000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:NOK" } }, "reg-ix-186": { "value": "4445000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-187": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-188": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:NOK" } }, "reg-ix-189": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-190": { "value": "870000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "reg-ix-191": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "borregaard:HedgingReserveMember", "unit": "iso4217:NOK" } }, "reg-ix-192": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:NOK" } }, "reg-ix-193": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:NOK" } }, "reg-ix-194": { "value": "870000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:NOK" } }, "reg-ix-195": { "value": "-14000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:NOK" } }, "reg-ix-196": { "value": "856000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-197": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-198": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:NOK" } }, "reg-ix-199": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-200": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "reg-ix-201": { "value": "-154000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "borregaard:HedgingReserveMember", "unit": "iso4217:NOK" } }, "reg-ix-202": { "value": "43000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:NOK" } }, "reg-ix-203": { "value": "46000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:NOK" } }, "reg-ix-204": { "value": "-65000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:NOK" } }, "reg-ix-205": { "value": "2000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:NOK" } }, "reg-ix-206": { "value": "-63000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-207": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-208": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:NOK" } }, "reg-ix-209": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-210": { "value": "870000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "reg-ix-211": { "value": "-154000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "borregaard:HedgingReserveMember", "unit": "iso4217:NOK" } }, "reg-ix-212": { "value": "43000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:NOK" } }, "reg-ix-213": { "value": "46000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:NOK" } }, "reg-ix-214": { "value": "805000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:NOK" } }, "reg-ix-215": { "value": "-12000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:NOK" } }, "reg-ix-216": { "value": "793000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-217": { "value": "-0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-218": { "value": "-0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:NOK" } }, "reg-ix-219": { "value": "-0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-220": { "value": "324000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "reg-ix-221": { "value": "-0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "borregaard:HedgingReserveMember", "unit": "iso4217:NOK" } }, "reg-ix-222": { "value": "-0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:NOK" } }, "reg-ix-223": { "value": "-0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:NOK" } }, "reg-ix-224": { "value": "324000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:NOK" } }, "reg-ix-225": { "value": "-0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:NOK" } }, "reg-ix-226": { "value": "324000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-227": { "value": "-0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-228": { "value": "-0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:NOK" } }, "reg-ix-229": { "value": "-0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-230": { "value": "92000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "reg-ix-231": { "value": "-0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "borregaard:HedgingReserveMember", "unit": "iso4217:NOK" } }, "reg-ix-232": { "value": "-0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:NOK" } }, "reg-ix-233": { "value": "-0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:NOK" } }, "reg-ix-234": { "value": "92000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:NOK" } }, "reg-ix-235": { "value": "-0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:NOK" } }, "reg-ix-236": { "value": "92000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-237": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-238": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:NOK" } }, "reg-ix-239": { "value": "32000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-240": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "reg-ix-241": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "borregaard:HedgingReserveMember", "unit": "iso4217:NOK" } }, "reg-ix-242": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:NOK" } }, "reg-ix-243": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:NOK" } }, "reg-ix-244": { "value": "32000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:NOK" } }, "reg-ix-245": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:NOK" } }, "reg-ix-246": { "value": "32000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-247": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "borregaard:SharesToEmployees", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-248": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "borregaard:SharesToEmployees", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:NOK" } }, "reg-ix-249": { "value": "30000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:SharesToEmployees", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-250": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "borregaard:SharesToEmployees", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "reg-ix-251": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "borregaard:SharesToEmployees", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "borregaard:HedgingReserveMember", "unit": "iso4217:NOK" } }, "reg-ix-252": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "borregaard:SharesToEmployees", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:NOK" } }, "reg-ix-253": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "borregaard:SharesToEmployees", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:NOK" } }, "reg-ix-254": { "value": "30000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:SharesToEmployees", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:NOK" } }, "reg-ix-255": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "borregaard:SharesToEmployees", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:NOK" } }, "reg-ix-256": { "value": "30000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:SharesToEmployees", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-257": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "borregaard:OptionCostsShareBasedPayment", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-258": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "borregaard:OptionCostsShareBasedPayment", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:NOK" } }, "reg-ix-259": { "value": "10000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:OptionCostsShareBasedPayment", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-260": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "borregaard:OptionCostsShareBasedPayment", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "reg-ix-261": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "borregaard:OptionCostsShareBasedPayment", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "borregaard:HedgingReserveMember", "unit": "iso4217:NOK" } }, "reg-ix-262": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "borregaard:OptionCostsShareBasedPayment", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:NOK" } }, "reg-ix-263": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "borregaard:OptionCostsShareBasedPayment", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:NOK" } }, "reg-ix-264": { "value": "10000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:OptionCostsShareBasedPayment", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:NOK" } }, "reg-ix-265": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "borregaard:OptionCostsShareBasedPayment", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:NOK" } }, "reg-ix-266": { "value": "10000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:OptionCostsShareBasedPayment", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-267": { "value": "100000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-268": { "value": "1346000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:NOK" } }, "reg-ix-269": { "value": "953000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-270": { "value": "2583000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "reg-ix-271": { "value": "-466000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "borregaard:HedgingReserveMember", "unit": "iso4217:NOK" } }, "reg-ix-272": { "value": "251000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:NOK" } }, "reg-ix-273": { "value": "88000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:NOK" } }, "reg-ix-274": { "value": "4855000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:NOK" } }, "reg-ix-275": { "value": "39000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:NOK" } }, "reg-ix-276": { "value": "4894000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-277": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-278": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:NOK" } }, "reg-ix-279": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-280": { "value": "823000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "reg-ix-281": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "borregaard:HedgingReserveMember", "unit": "iso4217:NOK" } }, "reg-ix-282": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:NOK" } }, "reg-ix-283": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:NOK" } }, "reg-ix-284": { "value": "823000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:NOK" } }, "reg-ix-285": { "value": "6000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:NOK" } }, "reg-ix-286": { "value": "829000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-287": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-288": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:NOK" } }, "reg-ix-289": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-290": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "reg-ix-291": { "value": "-385000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "borregaard:HedgingReserveMember", "unit": "iso4217:NOK" } }, "reg-ix-292": { "value": "120000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:NOK" } }, "reg-ix-293": { "value": "28000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:NOK" } }, "reg-ix-294": { "value": "-237000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:NOK" } }, "reg-ix-295": { "value": "4000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:NOK" } }, "reg-ix-296": { "value": "-233000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-297": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-298": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:NOK" } }, "reg-ix-299": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-300": { "value": "823000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "reg-ix-301": { "value": "-385000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "borregaard:HedgingReserveMember", "unit": "iso4217:NOK" } }, "reg-ix-302": { "value": "120000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:NOK" } }, "reg-ix-303": { "value": "28000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:NOK" } }, "reg-ix-304": { "value": "586000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:NOK" } }, "reg-ix-305": { "value": "10000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:NOK" } }, "reg-ix-306": { "value": "596000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-307": { "value": "-0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-308": { "value": "-0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:NOK" } }, "reg-ix-309": { "value": "-0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-310": { "value": "374000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "reg-ix-311": { "value": "-0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "borregaard:HedgingReserveMember", "unit": "iso4217:NOK" } }, "reg-ix-312": { "value": "-0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:NOK" } }, "reg-ix-313": { "value": "-0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:NOK" } }, "reg-ix-314": { "value": "374000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:NOK" } }, "reg-ix-315": { "value": "-0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:NOK" } }, "reg-ix-316": { "value": "374000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-317": { "value": "-0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-318": { "value": "-0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:NOK" } }, "reg-ix-319": { "value": "-0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-320": { "value": "98000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "reg-ix-321": { "value": "-0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "borregaard:HedgingReserveMember", "unit": "iso4217:NOK" } }, "reg-ix-322": { "value": "-0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:NOK" } }, "reg-ix-323": { "value": "-0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:NOK" } }, "reg-ix-324": { "value": "98000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:NOK" } }, "reg-ix-325": { "value": "-0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:NOK" } }, "reg-ix-326": { "value": "98000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-327": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-328": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:NOK" } }, "reg-ix-329": { "value": "31000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-330": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "reg-ix-331": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "borregaard:HedgingReserveMember", "unit": "iso4217:NOK" } }, "reg-ix-332": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:NOK" } }, "reg-ix-333": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:NOK" } }, "reg-ix-334": { "value": "31000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:NOK" } }, "reg-ix-335": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:NOK" } }, "reg-ix-336": { "value": "31000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-337": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "borregaard:SharesToEmployees", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-338": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "borregaard:SharesToEmployees", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:NOK" } }, "reg-ix-339": { "value": "28000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:SharesToEmployees", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-340": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "borregaard:SharesToEmployees", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "reg-ix-341": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "borregaard:SharesToEmployees", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "borregaard:HedgingReserveMember", "unit": "iso4217:NOK" } }, "reg-ix-342": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "borregaard:SharesToEmployees", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:NOK" } }, "reg-ix-343": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "borregaard:SharesToEmployees", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:NOK" } }, "reg-ix-344": { "value": "28000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:SharesToEmployees", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:NOK" } }, "reg-ix-345": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "borregaard:SharesToEmployees", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:NOK" } }, "reg-ix-346": { "value": "28000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:SharesToEmployees", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-347": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "borregaard:OptionCostsShareBasedPayment", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-348": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "borregaard:OptionCostsShareBasedPayment", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:NOK" } }, "reg-ix-349": { "value": "13000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:OptionCostsShareBasedPayment", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-350": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "borregaard:OptionCostsShareBasedPayment", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "reg-ix-351": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "borregaard:OptionCostsShareBasedPayment", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "borregaard:HedgingReserveMember", "unit": "iso4217:NOK" } }, "reg-ix-352": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "borregaard:OptionCostsShareBasedPayment", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:NOK" } }, "reg-ix-353": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "borregaard:OptionCostsShareBasedPayment", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:NOK" } }, "reg-ix-354": { "value": "13000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:OptionCostsShareBasedPayment", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:NOK" } }, "reg-ix-355": { "value": "0.0", "decimals": -6, "dimensions": { "concept": "borregaard:OptionCostsShareBasedPayment", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:NOK" } }, "reg-ix-356": { "value": "13000000.0", "decimals": -6, "dimensions": { "concept": "borregaard:OptionCostsShareBasedPayment", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-357": { "value": "100000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-358": { "value": "1346000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:NOK" } }, "reg-ix-359": { "value": "1025000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:AdditionalPaidinCapitalMember", "unit": "iso4217:NOK" } }, "reg-ix-360": { "value": "2934000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:NOK" } }, "reg-ix-361": { "value": "-851000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "borregaard:HedgingReserveMember", "unit": "iso4217:NOK" } }, "reg-ix-362": { "value": "371000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:NOK" } }, "reg-ix-363": { "value": "116000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:NOK" } }, "reg-ix-364": { "value": "5041000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:NOK" } }, "reg-ix-365": { "value": "49000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:NOK" } }, "reg-ix-366": { "value": "5090000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "reg-ix-368": { "value": "NOTE 01 GENERAL INFORMATION The consolidated \ufb01nancial statements for Borregaard ASA (Borregaard/Group), including notes, for the year 2024, were endorsed by the Board of Directors (the Board) of Borregaard ASA on 17 March 2025. Borregaard ASA is a public limited company and its of\ufb01ces are located in Hjalmar Wessels vei 6, 1721 Sarpsborg, Norway. Borregaard develops, produces and markets specialised biochemicals and biomaterials to a wide range of customers in global niches. Borregaard\u2019s business model is linked to its advanced biore\ufb01nery that utilises the different components in the biomass to produce high value-added products that to a large extent can substitute petrochemical alternatives. Borregaard is an international company with production units and sales of\ufb01ces in the world\u2019s most important industrial markets. The \ufb01nancial statements for 2024 have been prepared and presented in full compliance with the International Financial Reporting Standards (IFRS), as adopted by the EU. The valuation and recognition of the items in the \ufb01nancial statements have been carried out in accordance with current IFRS standards. The consolidated \ufb01nancial statements contain certain items that are crucial to understand the \ufb01nancial results for 2024. The most important principles are described below. Borregaard is exposed to currency risk for most of its sales, primarily in USD and EUR. A substantial part of this exposure, de\ufb01ned as estimated net cash \ufb02ow in USD or EUR, is routinely hedged on a rolling basis with a nine-month time horizon. Subject to certain criteria being met, the hedging horizon may be extended to three years in order to secure competitive margins. On the revenue side, most of Borregaard\u2019s business segments are exposed to price risk in international markets. The accounting policies regarding hedging are described in Note 29 and information regarding currency risks is provided in Note 28. Other income and expenses 1 (OIE) are presented as part of operating pro\ufb01t in the Income Statement but are presented after EBITDA 1 in the segment information in Note 7, which is reported according to management reporting. See Note 13 for details and speci\ufb01cations. The accounting policies for business areas are described in segment information for the various business areas in Note 7. Borregaard has business areas as operating segments. The operating segments correspond to the way in which the business areas report \ufb01gures to the Group Executive Management (key decision maker). The segments are BioSolutions, BioMaterials and Fine Chemicals. Borregaard ASA was incorporated as a public limited liability company on 22 August 2012. ", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-369": { "value": "The consolidated \ufb01nancial statements for Borregaard ASA (Borregaard/Group), including notes, for the year 2024, were endorsed by the Board of Directors (the Board) of Borregaard ASA on 17 March 2025.", "dimensions": { "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-370": { "value": "Borregaard ASA (Borregaard/Group)", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-371": { "value": "public limited company", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-372": { "value": "Hjalmar Wessels vei 6, 1721 Sarpsborg", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-374": { "value": "Norway", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-373": { "value": "Norway", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-375": { "value": "Borregaard develops, produces and markets specialised biochemicals and biomaterials to a wide range of customers in global niches. ", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-376": { "value": "The \ufb01nancial statements for 2024 have been prepared and presented in full compliance with the International Financial Reporting Standards (IFRS), as adopted by the EU. The valuation and recognition of the items in the \ufb01nancial statements have been carried out in accordance with current IFRS standards.", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-404": { "value": "Borregaard has business areas as operating segments. The operating segments correspond to the way in which the business areas report \ufb01gures to the Group Executive Management (key decision maker).NOTE 07 SEGMENTS Borregaard has business areas as operating segments. The operating segments correspond to the way in which the business areas report \ufb01gures to the Group Executive Management (key decision maker). All lignin-based products, including biovanillin, are organised under one management in BioSolutions. BioMaterials consist of products utilising wood \ufb01bres as the main raw material and include the speciality cellulose and cellulose \ufb01brils businesses. Fine Chemicals include \ufb01ne chemical intermediates mainly used for contrast agents and advanced bioethanol mainly for biofuel. Corporate overhead and certain other costs are allocated to the three business segments. Segment performance is primarily measured based on EBITDA 1 . BioSolutions develops, produces and sells biopolymers and biovanillin from lignin. BioMaterials develops, produces and sells speciality cellulose mainly for use as a raw material in the production of cellulose ethers, cellulose acetate and other speciality products. BioMaterials also includes cellulose \ufb01brils for industrial applications, which are in the market introduction phase. Fine Chemicals consists of \ufb01ne chemical intermediates and advanced bioethanol. The arm\u2019s length principle is applied to pricing of transactions between the various segments and companies. Borregaard AS provides services to the companies in the Group and charges them for these services. Figures for the geographical distribution of non- current operating assets, investments in property, plant and equipment, sales revenues and the number of man-years are also presented. See Note 8. The Group applies the same principles for the presentation of segment information as for the rest of its consolidated \ufb01nancial statements, and the operating pro\ufb01t/loss in the segment information is identical to the information presented in the income statement for the Group. There is therefore no need for further reconciliation of these income statement items. Borregaard has a central \ufb01nance function, and the \ufb01nancing of the various segments does not necessarily re\ufb02ect the real \ufb01nancial strength of the individual segments. Financial items are therefore presented only for the Group as a whole. The segment information tables show the key \ufb01gures in which management monitors the business, such as total operating revenue, operating expenses, EBITDA 1 , depreciation, amortisation and impairment of intangible assets, other income and expenses 1 and operating pro\ufb01t for each business area. It does not disclose internal sales between the various segments as it is considered immaterial. The table below shows the revenues generated by BioSolutions, BioMaterials and Fine Chemicals. Operating revenues consist of sales revenues (Note 8) and other revenues such as commissions, revenues from waste received for incineration etc. The segment information also includes cash \ufb02ow from operating activities, replacement investments, expansion investments 1 and working capital for each area. SEGMENTS 2024 Amounts in NOK million Bio- Solutions Bio- Materials Fine Chemicals Eliminations Borregaard Group Income statement Total operating revenues 4,241 2,622 799 -45 7,617 Cost of materials -1,355 -1,145 -232 -2,732 Payroll expenses -763 -518 -107 -1,388 Other operating expenses -1,019 -525 -124 45 -1,623 EBITDA 1 1,104 434 336 - 1,874 Depreciation -296 -216 -44 - -556 Amortisation and impairment intangible assets -5 - - - -5 Other income and expenses 1 -12 -18 - - -30 Operating pro\ufb01t 791 200 292 - 1,283 Net \ufb01nancial items - - - - -204 Pro\ufb01t before tax - - - - 1,079 Cash \ufb02ow Cash \ufb02ow from operating activities 625 107 336 - 1,068 Replacement investments -200 -351 -47 - -598 Expansion investments 1 including investments in associate companies and bio-based start-ups -182 -73 -8 - -263 Capital structure Working capital at year-end 1,203 541 179 - 1,923 Capital employed 1 at year-end - - - - 8,172 Return on capital employed 1 - - - - 17.1% SEGMENTS 2023 Amounts in NOK million Bio- Solutions Bio- Materials Fine Chemicals Eliminations Borregaard Group Income statement Total operating revenues 3,944 2,439 786 -37 7,132 Cost of materials -1,372 -925 -248 -2,545 Payroll expenses -720 -482 -102 -1,304 Other operating expenses -937 -498 -104 37 -1,502 EBITDA 1 915 534 332 - 1,781 Depreciation -243 -200 -42 - -485 Amortisation and impairment intangible assets -5 - - - -5 Other income and expenses 1 - - - - - Operating pro\ufb01t 667 334 290 - 1,291 Net \ufb01nancial items - - - - -167 Pro\ufb01t before tax - - - - 1,124 Cash \ufb02ow Cash \ufb02ow from operating activities 770 427 366 - 1,563 Replacement investments -261 -234 -55 - -550 Expansion investments 1 including investments in associate companies and bio-based start-ups -198 -81 -9 - -288 Capital structure Working capital at year-end 961 374 176 - 1,511 Capital employed 1 at year-end - - - - 7,142 Return on capital employed 1 - - - - 18.3% RECONCILIATION CAPITAL EMPLOYED 1 Amounts in NOK million 2024 2023 Capital employed 1 at year-end 8,172 7,142 Other non-current assets 279 443 Cash and cash equivalents 82 469 Net deferred tax -28 -130 Interest-bearing liabilities -2,323 -2,262 Income tax payable -178 -198 Accumulated write-down and amortisation of goodwill and intangible assets -216 -197 Other (derivatives, accruals, etc.) -698 -373 Equity 5,090 4,894 RECONCILIATION WORKING CAPITAL Amounts in NOK million 2024 2023 Receivables 1,441 1,201 Inventories 1,498 1,447 Other liabilities -1,402 -1,361 Derivatives, etc. not included in above items 386 224 Working capital 1,923 1,511 ", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-377": { "value": "Borregaard has business areas as operating segments. The operating segments correspond to the way in which the business areas report \ufb01gures to the Group Executive Management (key decision maker).", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-378": { "value": "NOTE 02 BASIS FOR PREPARATION Borregaard ASA was incorporated as a public limited liability company on 22 August 2012. The Borregaard Group includes subsidiaries, a joint venture and an associate company directly and indirectly owned by Borregaard ASA. The consolidated \ufb01nancial statements are primarily based on the historical cost principle. Interest income is recognised in the income statement when earned, while any dividends are recognised on the date they are approved for payment. Interest income and dividends are presented under \u201c\ufb01nancial income\u201d. The Group has at all times various contracts for the sale and purchase of goods and services in connection with the production. These contracts are regarded as part of Borregaard\u2019s ordinary operating activities and are therefore not speci\ufb01ed or indicated in any other way. The contracts are deemed to be strictly sale or purchase contracts with no embedded derivatives. The company also enters into currency derivatives contracts. Hedging instruments which satisfy the criteria for hedge accounting, are reported at fair value in the statement of \ufb01nancial position and changes in fair value are recognised in comprehensive income. Derivatives which do not satisfy the criteria for hedge accounting, are recognised at fair value through pro\ufb01t and loss. Assets that no longer justify their value are written down to the recoverable amount, which is the higher of value in use and fair value minus selling costs. The accrual accounting principle and the going concern assumption are underlying assumptions for preparing the combined \ufb01nancial statements. An asset is classi\ufb01ed as current when it is part of a normal operating cycle, it is held primarily for trading purposes, it expects to realise within twelve months or it consists of unrestricted cash or cash equivalents. A liability is classi\ufb01ed as current when it is part of a normal operating cycle, it is held primarily for trading purposes, is due to be settled within twelve months or it does not have an unconditional right to defer settlement of the liability for at least twelve months after the reporting period. Other items are non-current. A dividend does not become a liability until it has been formally approved by the General Meeting. The amortisation of intangible assets and other income and expenses 1 are presented on separate lines, broken down by segment. All amounts are in NOK million unless otherwise stated. The functional currency of the parent company (Borregaard ASA) is NOK and the Group\u2019s reporting currency is NOK. Currency exchange rates as of 31 December are used in the balance sheet, whereas average currency exchange rates are used in the pro\ufb01t and loss. Consolidation principles The consolidated \ufb01nancial statements show the overall \ufb01nancial results and the overall \ufb01nancial position when the parent company Borregaard ASA and its controlling interests are presented as a single economic entity. All the companies have applied consistent principles and all internal matters between the companies have been eliminated. Interests in companies in which the Group alone has control (subsidiaries) have been fully consolidated, line by line, in the consolidated \ufb01nancial statements from the date the Group acquired control. These entities will be fully consolidated until the date such control ends. An investor controls an investee when the investor is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. If the Group controls a subsidiary, the non-controlling interests\u2019 share of pro\ufb01t or loss after tax and their share of equity are presented on separate lines. Interests in companies in which the Group together with others has joint control or has an ownership between 20\u201350% (joint ventures and associate companies, see Note 6) are consolidated based on the equity method. The pro\ufb01t or loss from the joint venture and associate companies is part of \ufb01nancial items. Business combinations are accounted for using the acquisition method. In connection with the acquisition of a subsidiary, the establishment of a joint venture or any acquisitions of signi\ufb01cant in\ufb02uence in associates, a purchase price allocation is carried out. The acquisition is reported in the \ufb01nancial statements from the date the Group has control. The date of control is normally the date on which the acquisition agreement takes effect and has been approved by all relevant authorities. Assets and liabilities are measured at fair value at the time of acquisition. If there are non-controlling interests in the acquired company, these will be measured at their share of identi\ufb01ed assets and liabilities. Goodwill allocated to non-controlling interests is considered separately in each acquisition. Goodwill is determined as the excess of the purchase price and the amount recognised as non-controlling interest over the fair value of identi\ufb01ed assets and liabilities assumed. Other matters Contingent liabilities and contingent assets. A contingent liability or asset is a possible obligation or a possible asset whose existence is uncertain and will be con\ufb01rmed by the occurrence or non-occurrence of a future event, such as the outcome of legal proceedings or the \ufb01nal settlement of an insurance claim. Liabilities are recognised in the \ufb01nancial statements if there is a more than 50% probability that the liability has arisen; if the probability is lower, the matter is disclosed in notes to the \ufb01nancial statements unless the probability of payment is remote. An asset will only be recognised in the statement of \ufb01nancial position if it is virtually certain (95%) that the Group will realise the asset. The disclosure requirement applies to other contingent assets. ", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-379": { "value": "The Borregaard Group includes subsidiaries, a joint venture and an associate company directly and indirectly owned by Borregaard ASA. The consolidated \ufb01nancial statements are primarily based on the historical cost principle. Consolidation principles The consolidated \ufb01nancial statements show the overall \ufb01nancial results and the overall \ufb01nancial position when the parent company Borregaard ASA and its controlling interests are presented as a single economic entity. All the companies have applied consistent principles and all internal matters between the companies have been eliminated. Interests in companies in which the Group alone has control (subsidiaries) have been fully consolidated, line by line, in the consolidated \ufb01nancial statements from the date the Group acquired control. These entities will be fully consolidated until the date such control ends. An investor controls an investee when the investor is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. If the Group controls a subsidiary, the non-controlling interests\u2019 share of pro\ufb01t or loss after tax and their share of equity are presented on separate lines. Interests in companies in which the Group together with others has joint control or has an ownership between 20\u201350% (joint ventures and associate companies, see Note 6) are consolidated based on the equity method. The pro\ufb01t or loss from the joint venture and associate companies is part of \ufb01nancial items. Business combinations are accounted for using the acquisition method. In connection with the acquisition of a subsidiary, the establishment of a joint venture or any acquisitions of signi\ufb01cant in\ufb02uence in associates, a purchase price allocation is carried out. The acquisition is reported in the \ufb01nancial statements from the date the Group has control. The date of control is normally the date on which the acquisition agreement takes effect and has been approved by all relevant authorities. Assets and liabilities are measured at fair value at the time of acquisition. If there are non-controlling interests in the acquired company, these will be measured at their share of identi\ufb01ed assets and liabilities. Goodwill allocated to non-controlling interests is considered separately in each acquisition. Goodwill is determined as the excess of the purchase price and the amount recognised as non-controlling interest over the fair value of identi\ufb01ed assets and liabilities assumed. ", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "mtpnn4": { "value": "Interest income is recognised in the income statement when earned, while any dividends are recognised on the date they are approved for payment. Interest income and dividends are presented under \u201c\ufb01nancial income\u201d. NOTE 14 NET FINANCIAL ITEMS Interest income and interest costs on loans and receivables are calculated using the effective interest method. Commitment fees and costs related to borrowings are reported as part of interest costs. The \ufb01nancial element of pension costs is included in other \ufb01nance costs and is disclosed in Note 10. Borrowing costs related to assets under construction are recognised in the statement of \ufb01nancial position together with the asset. Foreign currency gains or losses arising from operational assets and liabilities, and the hedging of such, are reported as operating revenues or operating costs. Other foreign currency gains or losses are reported as foreign exchange gain and foreign exchange loss. The foreign currency gains or losses related to net investments in subsidiaries are disclosed in Note 29. There are no major differences between recognised interest income and in\ufb02ow of interests. There are no major differences between recognised interest expense and out\ufb02ow of interests. FINANCE INCOME AND FINANCE COSTS Amounts in NOK million 2024 2023 Interest income 33 30 Foreign exchange gain 332 374 Other \ufb01nance income 1 5 Total \ufb01nance income 366 409 Interest costs -193 -171 Foreign exchange loss -349 -389 Other \ufb01nance costs -6 -7 Total \ufb01nance costs -548 -567 Share of pro\ufb01t/loss from associate -22 -9 Net \ufb01nancial items -204 -167 ", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-380": { "value": "Interest income is recognised in the income statement when earned, while any dividends are recognised on the date they are approved for payment. Interest income and dividends are presented under \u201c\ufb01nancial income\u201d. Interest income and interest costs on loans and receivables are calculated using the effective interest method. Commitment fees and costs related to borrowings are reported as part of interest costs. The \ufb01nancial element of pension costs is included in other \ufb01nance costs and is disclosed in Note 10. Borrowing costs related to assets under construction are recognised in the statement of \ufb01nancial position together with the asset. Foreign currency gains or losses arising from operational assets and liabilities, and the hedging of such, are reported as operating revenues or operating costs. Other foreign currency gains or losses are reported as foreign exchange gain and foreign exchange loss. The foreign currency gains or losses related to net investments in subsidiaries are disclosed in Note 29. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "mtpnn5": { "value": "The Group has at all times various contracts for the sale and purchase of goods and services in connection with the production. These contracts are regarded as part of Borregaard\u2019s ordinary operating activities and are therefore not speci\ufb01ed or indicated in any other way. The contracts are deemed to be strictly sale or purchase contracts with no embedded derivatives.NOTE 08 REVENUES AND GEOGRAPHICAL BREAKDOWN Revenues are recognised to depict the transfer of promised goods or services to customers in an amount that re\ufb02ects the consideration to which the entity expects to be entitled in exchange for those goods or services. IFRS 15 applies to all revenue contracts and provides a model for the recognition and measurement of sales of some non-\ufb01nancial assets (e.g. disposals of property, plant and equipment). For contracts with customers, sale of Borregaard\u2019s products is generally expected to be the only performance obligation. The Group\u2019s revenue recognition occurs at a point in time when control of the asset is transferred to the customer, generally on delivery of the goods. Borregaard also have some contracts that include volume rebates to some customers. The Group currently recognises rebates based on the most likely amount method which is also in line with IFRS 15. Borregaard operates in several countries and below is a summary showing the geographical breakdown of non-current operating assets, investments, number of man-years based on the geographical location of the operation. Sales revenues are based on the location of the customers. See Note 22 for customers\u2019 payment terms. Non-current operating assets Investments Number of man-years Sales revenues Amounts in NOK million 2024 2023 2024 2023 2024 2023 2024 2023 Norway 4,487 4,193 791 764 814 815 227 279 Rest of Europe 114 108 8 13 86 88 3,254 3,097 Asia 10 10 2 2 56 53 1,719 1,698 America 1,011 961 60 59 184 169 2,242 1,893 Rest of the world - - - - 1 2 60 57 Total 5,622 5,272 861 838 1,141 1,127 7,502 7,024 SALES REVENUES PER PRODUCT GROUP Amounts in NOK million 2024 2023 BioSolutions 4,132 3,849 BioMaterials 2,579 2,395 Fine Chemicals 791 780 Eliminations - - Total revenues 7,502 7,024 Operating revenues consist of sales revenues and other revenues such as commissions, revenues from waste received for incineration etc. ", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-381": { "value": "The Group has at all times various contracts for the sale and purchase of goods and services in connection with the production. These contracts are regarded as part of Borregaard\u2019s ordinary operating activities and are therefore not speci\ufb01ed or indicated in any other way. The contracts are deemed to be strictly sale or purchase contracts with no embedded derivatives.NOTE 08 REVENUES AND GEOGRAPHICAL BREAKDOWN Revenues are recognised to depict the transfer of promised goods or services to customers in an amount that re\ufb02ects the consideration to which the entity expects to be entitled in exchange for those goods or services. IFRS 15 applies to all revenue contracts and provides a model for the recognition and measurement of sales of some non-\ufb01nancial assets (e.g. disposals of property, plant and equipment). For contracts with customers, sale of Borregaard\u2019s products is generally expected to be the only performance obligation. The Group\u2019s revenue recognition occurs at a point in time when control of the asset is transferred to the customer, generally on delivery of the goods. Borregaard also have some contracts that include volume rebates to some customers. The Group currently recognises rebates based on the most likely amount method which is also in line with IFRS 15. Borregaard operates in several countries and below is a summary showing the geographical breakdown of non-current operating assets, investments, number of man-years based on the geographical location of the operation. Sales revenues are based on the location of the customers. See Note 22 for customers\u2019 payment terms. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-443": { "value": " The company also enters into currency derivatives contracts. Hedging instruments which satisfy the criteria for hedge accounting, are reported at fair value in the statement of \ufb01nancial position and changes in fair value are recognised in comprehensive income. Derivatives which do not satisfy the criteria for hedge accounting, are recognised at fair value through pro\ufb01t and loss. NOTE 19 OVERVIEW OF FINANCIAL INSTRUMENTS Loans, as well as trade receivables, are held to collect contractual cash \ufb02ows and are expected to give rise to cash \ufb02ows solely representing payments of principal and interest. The Group analysed the contractual cash \ufb02ow characteristics of those instruments and concluded that they meet the criteria for amortised cost measurement under IFRS 9. The Group applied the simpli\ufb01ed approach and record lifetime expected losses on all trade receivables. The Group has considered that due to the historical low level of credit losses, the loss allowance will not be materially different from the current level. Transactions in foreign currencies are recognised at the exchange rate on the date of the transaction, while monetary items in foreign currencies are presented at the exchange rate on the balance sheet date, and any gain/ loss is reported in the income statement as \ufb01nancial items. Revenues and expenses in subsidiaries with a functional currency different from the Group\u2019s presentation currency are translated monthly at the average exchange rate for the month and accumulated. Statement of \ufb01nancial position items in subsidiaries with a different functional currency are translated at the exchange rate on the balance sheet date. Translation differences are reported in comprehensive income. The Group uses the following hierarchy for determining and disclosing the fair value of \ufb01nancial instruments, by valuation technique: Level 1: Quoted market prices in an active market (that are unadjusted) for identical assets and liabilities. Level 2: Valuation techniques (for which the lowest level input that is signi\ufb01cant to the fair value measurement is directly or indirectly observable). Level 3: Valuation techniques (for which the lowest level input that is signi\ufb01cant to the fair value measurement is unobservable). The foreign exchange element in currency forward contracts is measured at observable market prices using the foreign exchange rate set by Norges Bank, Norway\u2019s central bank. Different maturity dates add an interest rate element resulting in an estimated fair value of the currency forward contracts. Borregaard had one item de\ufb01ned as level 1 at the end of 2023. This item was transferred from level 1 to level 2 in the measurement hierarchy during 2024. A description of how the derivatives are measured is provided in Note 29. OVERVIEW OF FINANCIAL INSTRUMENTS 2024 Amounts in NOK million Note Measure- ment level Financial instruments at fair value through pro\ufb01t and loss Financial instruments at fair value - hedging instruments Financial liabilities measured at amortised cost Deposits and receivables measured at amortised cost Total Of this interest- bearing Fair value Non-current assets Non-current \ufb01nancial receivables 20 2 - - - 191 191 1 191 Share investments 20 2 - - - 28 28 - 28 Non-current derivatives 20, 29 2 - 1 - - 1 - 1 Total - 1 - 219 220 1 220 Current assets Accounts receivable 22 - - - 1,073 1,073 - 1,073 Other current receivables 22 - - - 41 41 - 41 Current derivatives 22, 29 2 1 4 - - 5 - 5 Cash and cash equivalents 23 - - - 82 82 82 82 Total 1 4 - 1,196 1,201 82 1,201 Non-current liabilities Non-current \ufb01nancial liabilities 12, 27 2,3 - - 2,037 - 2,037 2,035 2,037 Non-current derivatives 24, 29 2 - 336 - - 336 - 336 Total - 336 2,037 - 2,373 2,035 2,373 Current liabilities Current \ufb01nancial liabilities 12, 27 2 - - 288 - 288 288 288 Accounts payable 25 - - 551 - 551 - 551 Other current liabilities 25 - - 9 - 9 - 9 Current derivatives 25, 29 2 2 361 - - 363 - 363 Total 2 361 848 - 1,211 288 1,211 Total \ufb01nancial instruments -1 -692 -2,885 1,415 -2,163 -2,240 -2,163 Total measurement level 1 - - - - - - - Total measurement level 2, assets 1 5 - 219 225 1 225 Total measurement level 2, liabilities -2 -697 -1,825 - -2,524 -1,823 -2,524 Total measurement level 3 - - -500 - -500 -500 -500 OVERVIEW OF FINANCIAL INSTRUMENTS 2023 Amounts in NOK million Note Measure- ment level Financial instruments at fair value through pro\ufb01t and loss Financial instruments at fair value - hedging instruments Financial liabilities measured at amortised cost Deposits and receivables measured at amortised cost Total Of this interest- bearing Fair value Non-current assets Non-current \ufb01nancial receivables 20 2 - - - 184 184 2 184 Share investments 20 1 - - - 28 28 - 280 Non-current derivatives 20, 29 2 - 93 - - 93 - 93 Total - 93 - 212 305 2 305 Current assets Accounts receivable 22 - - - 877 877 - 877 Other current receivables 22 - - - 33 33 - 33 Current derivatives 22, 29 2 4 27 - - 31 - 31 Cash and cash equivalents 23 - - - 469 469 469 469 Total 4 27 - 1,379 1,410 469 1,410 Non-current liabilities Non-current \ufb01nancial liabilities 12, 27 2,3 - - 2,018 - 2,018 2,016 2,018 Non-current derivatives 24, 29 2 - 176 - - 176 - 176 Total - 176 2,018 - 2,194 2,016 2,194 Current liabilities Current \ufb01nancial liabilities 12, 27 2 - - 246 - 246 246 246 Accounts payable 25 - - 560 - 560 - 560 Other current liabilities 25 - - 9 - 9 - 9 Current derivatives 25, 29 2 3 252 - - 255 - 255 Total 3 252 815 - 1,070 246 1,070 Total \ufb01nancial instruments 1 -308 -2,833 1,591 -1,549 -1,791 -1,549 Total measurement level 1 - - - 28 28 - 28 Total measurement level 2, assets 4 120 - 184 308 2 308 Total measurement level 2, liabilities -3 -428 -1,764 - -2,195 -1,762 -2,195 Total measurement level 3 - - -500 - -500 -500 -500 For current assets and liabilities, fair value is estimated close or equal to book value. The bond is determined as measurement level 3. The fair value of the bond is deemed to equal book value. The bond carries \ufb02oating interest terms and the issuer\u2019s credit quality is not considered to have changed since the bond was issued in June 2023. CHANGE IN PROVISIONS FOR BAD DEBT: Amounts in NOK million 2024 2023 Provisions for bad debts 1 January 11 9 Bad debts recognised as expense (- income) 6 2 Realised losses - - Translation effects 1 - Provisions for bad debts 31 December 18 11 NOTE 27 FUNDING AND INTEREST-BEARING LIABILITIES Loans and receivables are carried at amortised cost. Thus, changes in fair value resulting from changes in interest rates during the interest rate period are not reported in the income statement. Borrowing costs related to the long-term funding are capitalised over the period of the loan facilities. Funding Borregaard's main sources of \ufb01nancing are proceeds from its USD 50 million term loan with the Nordic Investment Bank, its green bond issue of NOK 500 million, and its long- term revolving credit facilities totalling NOK 1,500 million from three Scandinavian banks. In June 2017, LignoTech Florida entered into a USD 60 million loan agreement. The loan has a remaining balance of USD 48.8 million at 31 December 2024. To meet short term liquidity needs, an overdraft facility of USD 15 million was established. For liquidity and cash management purposes two multicurrency overdraft facilities totalling NOK 225 million are in place. Book value Fair value Amounts in NOK million 2024 2023 2024 2023 Non-current interest-bearing liabilities Bank loans/bond 1,593 1,548 1,593 1,548 Other interest-bearing liabilities 442 468 442 468 Total non-current interest-bearing liabilities 2,035 2,016 2,035 2,016 Current interest-bearing liabilities Bank loans/overdraft/commercial paper/bond 176 151 176 151 Other interest-bearing liabilities 112 95 112 95 Total current interest-bearing liabilities 288 246 288 246 Total interest-bearing liabilities 2,323 2,262 2,323 2,262 Interest-bearing receivables Non-current interest-bearing receivables 1 2 1 2 Cash and cash equivalents 82 469 82 469 Total interest-bearing receivables 83 471 83 471 Net interest-bearing debt 1 2,240 1,791 2,240 1,791 RECONCILIATION OF LIABILITIES ARISING FROM FINANCING ACTIVITIES 1 January 2024 Cash \ufb02ows Additions/ transfer leases Foreign exchange movement Fair value changes 31 December 2024 Long-term borrowings 2,016 -118 66 71 - 2,035 Short-term borrowings excluding overdraft 206 -32 19 9 - 202 Other instruments - - - - - - Change in net interest-bearing liablities - -150 - - - - Overdraft 40 41 5 - 86 Total liabilities from \ufb01nancing activities 2,262 -109 85 85 - 2,323 RECONCILIATION OF LIABILITIES ARISING FROM FINANCING ACTIVITIES 1 January 2023 Cash \ufb02ows Additions/ transfer leases Foreign exchange movement Fair value changes 31 December 2023 Long-term borrowings 1,370 463 170 13 - 2,016 Short-term borrowings excluding overdraft 579 -473 101 -1 - 206 Other instruments - - - - - - Change in net interest-bearing liablities -10 Overdraft 123 -87 - 4 - 40 Total liabilities from \ufb01nancing activities 2,072 -97 271 16 - 2,262 There were no drawings under the Bank Facilities Agreements as of 31 December 2024. Drawings originating from the bond issue, the term loan with Nordic Investment Bank, and the term loan related to LignoTech Florida amounted to NOK 1,621 million as of 31 December 2024. The maturity pro\ufb01les of the Group\u2019s interest-bearing liabilities are shown in the table below. MATURITY PROFILE INTEREST-BEARING LIABILITIES AND UNUTILISED CREDIT FACILITIES Gross interest-bearing liabilities Unutilised credit facilities Amounts in NOK million 2024 2023 2024 2023 Maturity < 1 year 288 246 310 338 Maturity 1-3 years 788 404 1,500 500 Maturity 3-5 years 738 1,059 - 1,000 Maturity 5-7 years 213 193 - - Maturity > 7 years 296 360 - - Total 2,323 2,262 1,810 1,838 NOTE 28 FINANCIAL AND CLIMATE RISKS (I) ORGANISATION OF FINANCIAL RISK MANAGEMENT Borregaard operates internationally and is exposed to \ufb01nancial risks like currency risk, interest rate risk, commodity price risk, climate risk, liquidity risk and credit risk. Borregaard uses derivatives and other \ufb01nancial instruments to reduce these risks in accordance with the Group\u2019s \ufb01nance policy. Responsibility for managing \ufb01nancial risk in Borregaard is divided between business areas, which manage risk related to business processes and corporate functions, which manages risk related to centralised activities like funding, interest rate management, cash management, currency risk management and credit management policy. Borregaard\u2019s CFO and the Group\u2019s Treasury Department are responsible for managing centralised \ufb01nancial risk elements. Financial risks This section describes the most important risk factors within the Group and the management of these risks. In this context, \ufb01nancial risk is de\ufb01ned as risk related to \ufb01nancial instruments. These may either be hedging instruments for underlying risk or viewed as inherently a source of risk. Borregaard is exposed to currency risk for most of its sales, primarily in USD and EUR. A substantial part of this exposure, de\ufb01ned as estimated net cash \ufb02ow in USD or EUR, is routinely hedged on a rolling basis with a nine- month time horizon. In order to secure medium- term competitiveness, the hedging horizon may gradually be extended to three years for a EUR/ NOK hedging rate in the range of 10.50-11.00 and gradually to three years for USD/NOK hedging rates in the 9.50-10.00 range. On the revenue side, all of Borregaard\u2019s business segments are exposed to price risk in international markets. Borregaard is also exposed to price risk on wood, energy (heat energy and electric power) and other strategic raw materials. At the end of 2024 Borregaard has \ufb01ve long- term supply contracts for electric energy to the Sarpsborg site for the period 2025 to 2034: \u2022 Eidsiva Vannkraft, 2.8 TWh for the period 2020 to 2029 with annual deliveries decreasing from 420 GWh to 130 GWh. \u2022 Statkraft, 1.75 TWh for the period 2020 to 2029, with annual deliveries of 175 GWh. \u2022 E-CO Energi, 1.66 TWh for the period 2022 to 2033, with annual deliveries increasing from 88 GWh to 175 GWh. \u2022 \u00c5 Energi, 0,88 TWh for the period 2024 to 2033, with annual deliveries of 88 GWh. \u2022 Hafslund, 0,88 TWh for the period 2025 to 2034, with annual deliveries of 88 GWh. The long-term supply contracts for electric energy are intended for own use and therefore deemed quali\ufb01ed under the own-use exemption. Borregaard also has a hedging strategy which enables hedging of part of its future expected power consumption. The purpose of this hedging is to reduce the risk from volatility in the power prices. (II) CATEGORIES OF FINANCIAL RISKS FOR THE BORREGAARD GROUP Currency risk As NOK is the presentation currency for the Group, Borregaard is exposed to currency translation risk for net investments in foreign operations. Borregaard hedges this category of risk using currency forward contracts for EUR and a mix of forward contracts and loan for USD. Transaction risk is hedged against each entity\u2019s functional currency. Borregaard applies hedge accounting for most hedges of future transactions, either cash \ufb02ow hedges or fair value hedges of \ufb01rm commitments. The different types of hedges are described in Note 29. The Group\u2019s aggregated outstanding currency hedges of future transactions on the balance sheet date are shown in the tables on the next page. FOREIGN EXCHANGE CONTRACTS LINKED TO HEDGING OF FUTURE REVENUES AND COSTS 2024 Amounts in million Purchase currency Amount Sale currency Amount Maturity USD 2 NOK 19 2025 NOK 1,572 USD 158 2025 NOK 1,567 USD 150 2026 NOK 1,086 USD 102 2027 EUR 2 USD 2 2025 EUR 2 NOK 18 2025 NOK 1,365 EUR 125 2025 NOK 1,389 EUR 119 2026 NOK 1,049 EUR 87 2027 SEK 66 NOK 68 2025 2023 Amounts in million Purchase currency Amount Sale currency Amount Maturity USD 2 NOK 19 2024 NOK 1,557 USD 168 2024 NOK 1,572 USD 158 2025 NOK 1,094 USD 106 2026 EUR 1 USD 1 2024 EUR 5 NOK 53 2024 EUR 2 NOK 18 2025 NOK 1,314 EUR 124 2024 NOK 1,365 EUR 125 2025 NOK 973 EUR 83 2026 SEK 48 NOK 48 2024 Interest rate risk Borregaard\u2019s interest rate risk is mainly related to the Group\u2019s interest-bearing liabilities and assets. This risk is managed at parent level. Borregaard shall primarily follow a \ufb02oating rate strategy, but may consider \ufb01xed rates for a maximum of 50% of its debt, using appropriate derivatives. Liquidity risk Liquidity risk is the risk that Borregaard is not able to meet its payment obligations. This risk is managed centrally, but in close concert with affected subsidiaries. Borregaard AS initiates measures deemed necessary to maintain a strong liquidity. Cash \ufb02ow from operations, which among other factors is affected by changes in working capital, is managed operationally at Group level, and is relatively stable. Borregaard monitors liquidity \ufb02ows, short and long-term, through reporting and selected forecasting routines. Due to the aforementioned measures, the Group has limited liquidity risk. The table below shows the maturity pro\ufb01le for the Group\u2019s contractual \ufb01nancial liabilities, including liabilities which are not recognised in the \ufb01nancial position. The amounts represent undiscounted future cash \ufb02ows and may therefore deviate from recognised \ufb01gures. The table also includes derivatives recognised as assets on the balance sheet date, as derivatives may include both positive and negative cash \ufb02ows, and the fair value \ufb02uctuates over time. Forward prices are used to determine the future settlement amounts for electric power and currency derivatives. See Note 29. MATURITY PROFILE FINANCIAL LIABILITIES 2024 Amounts in NOK million Book Value Contractual cash \ufb02ows < 1 year 1-3 years 3-5 years 5-7 years > 7 years Interest-bearing liabilities excluding lease liabilities 1,769 1,769 176 637 674 174 108 Lease liabilities 554 733 143 195 95 65 235 Interest payable bank loans & bonds 9 332 103 161 51 16 1 Accounts payable 551 551 551 - - - - Gross settled derivatives * 693 - - - - - - In\ufb02ow - -9,626 -4,535 -5,091 - - - Out\ufb02ow - 10,319 4,893 5,380 31 6 9 Total 3,575 4,077 1,330 1,282 851 261 353 MATURITY PROFILE FINANCIAL LIABILITIES 2023 Amounts in NOK million Book Value Contractual cash \ufb02ows < 1 year 1-3 years 3-5 years 5-7 years > 7 years Interest-bearing liabilities excluding lease liabilities 1,699 1,699 151 241 990 156 161 Lease liabilities 563 757 127 210 101 63 256 Interest payable bank loans & bonds 9 430 108 192 98 26 6 Accounts payable 560 560 560 - - - - Gross settled derivatives * 307 - - - - - - In\ufb02ow - -9,226 -4,194 -5,025 -2 -2 -3 Out\ufb02ow - 9,533 4,423 5,086 16 8 - Total 3,138 3,753 1,175 704 1,203 251 420 The \ufb01nancial liabilities are serviced by cash \ufb02ow from operations, liquid, and interest-bearing assets, and, when necessary, drawings on unutilised credit facilities. Credit risk The management of credit risk related to accounts receivable and other operating receivables is handled as part of the business risk but based on guidelines set by Borregaard AS and continuously monitored by the operating entities. There is no signi\ufb01cant concentration of credit risk in respect of single counterparts. A credit management policy is in place. Credit losses are historically modest due to a stable and \ufb01nancially healthy customer base as well as stringent monitoring of trade receivables. See Note 22. For sales to countries or customers associated with high political or commercial risk, trade \ufb01nance products are widely used to reduce credit risk. With these risk mitigation measures in place, the current credit risk is considered to be acceptable. See Note 8 for geographical breakdown of sales revenues. Borregaard considers its credit risk related to other \ufb01nancial instruments to be low. Firstly, only relationship banks act as counterparts for \ufb01nancial hedge transactions. Secondly, bank accounts are mainly held with relationship banks. For deposits of liquidity with other counterparts in countries where relationship banks are not present, Borregaard has requirements relating to the bank\u2019s credit rating. Maximum credit risk The maximum credit exposure for the Group related to \ufb01nancial instruments corresponds to total gross receivables. In the hypothetical and highly unlikely event that no receivables are redeemed, this amounts to: Amounts in NOK million 2024 2023 Cash and cash equivalents 82 469 Accounts receivable 1,073 877 Other current receivables 41 33 Non-current receivables 191 184 Derivatives 6 124 Total 1,393 1,687 Commodity price risk The Group is exposed to price risks in respect of a number of raw materials, of which electric power, lique\ufb01ed natural gas and wood are the most substantial. However, prices of sold products are also affected by raw material prices, and it is generally Borregaard\u2019s policy to reduce the price risk through commercial contracts. Climate risk and nature risks Climate and nature risk assessments comply with IFRS S2 and TNFD standards. In the table below, climate and nature risks and opportunities, as described from page 80 in this Annual Report, and in the Climate and Nature Risk Report, are included with current exposure and current price/ level cost. NOTE 29 DERIVATIVES AND HEDGING Derivatives are measured at fair value on the balance sheet date and reported as receivables or liabilities. Changes in fair value are reported in the income statement in cases where the derivative is not part of a hedge relationship that satis\ufb01es the criteria for hedge accounting. Embedded derivatives in contracts are identi\ufb01ed and measured separately. Purchases and sales of derivatives are recognised at trade date. The Group applies IFRS 9 on its \ufb01nancial instruments. Hedge accounting The Group\u2019s existing hedge relationships designated in effective hedging relationships qualify for hedge accounting under IFRS 9. The Group uses the following criteria for classifying a derivative or another \ufb01nancial instrument as a hedging instrument: (1) the hedging instrument is expected to be highly effective in offsetting the changes in fair value or the cash \ufb02ow of an identi\ufb01ed object, (2) the hedging effectiveness can be measured reliably, (3) satisfactory documentation is established before entering into the hedging instrument, showing among other things that the hedging relationship is effective, (4) for cash \ufb02ow hedges, that the future transaction is considered to be highly probable, and the hedging relationship is evaluated regularly and is considered to be effective. The table below shows the fair value of all outstanding derivative \ufb01nancial instruments grouped according to treatment in the \ufb01nancial statements: DERIVATIVES AND HEDGING 2024 2023 Amounts in NOK million Assets Liabilities Assets Liabilities Cash \ufb02ow hedges Currency forwards, currency swaps 5 610 105 378 Power hedges - - - - Interest swaps - - - - Embedded derivative - 88 9 50 Hedges of net investments Currency forwards, currency swaps - - 6 - Other derivatives - Fair value changes recognised in income statement Currency forwards, currency swaps, options 1 1 4 3 Total derivatives 6 699 124 431 Calculation of fair value \u2022 Currency forwards and currency swaps are measured at fair value using the observed forward exchange rate for contracts with a corresponding term to maturity at the balance sheet date. \u2022 The fair value of currency options is calculated using Garman-Kohlhagen\u2019s version of the Black Scholes Option pricing method, and the variables are based on observed indicative market prices at the balance sheet date. These derivative \ufb01nancial instruments are designated in hedge relationships as follows: Cash \ufb02ow hedges The effective part of changes in the fair value of a hedging instrument is recognised in comprehensive income and reclassi\ufb01ed to the income statement when the hedged transaction affects pro\ufb01t or loss and is presented on the same line as the hedged transaction. The ineffective part of the hedging instrument is reported in the income statement. When a hedging instrument is sold, exercised or terminated, the accumulated gains and losses at this point will remain in hedging reserve of equity and will be recognised in the income statement when the hedged transaction affects pro\ufb01t or loss. The group has established a hedge ratio of 1:1 for the hedging relationship as the underlying risk of foreign exchange are identical to the hedged components. If the hedged transaction is no longer expected to occur, the accumulated unrealised gain or loss recognised in the hedging reserve of equity will be recognised in the income statement immediately. Embedded EUR derivatives in power contracts are designed as hedging instruments to hedge currency \ufb02uctuations of highly probable future sales. In 2024, a loss of NOK 10 million (2023: loss of NOK 7.8 million) was recorded in the income statement as a result of hedging inef\ufb01ciency. All expected cash \ufb02ows which have been hedged during 2024 still qualify for hedge accounting. Hedges of net investments in foreign currencies Currency risk on foreign net investments is hedged with currency forward contracts and currency loans. Realised and unrealised effects of the effective part of the hedging instrument are recognised through comprehensive income. Effects from ineffective parts of the hedging instrument are recognised through pro\ufb01t and loss. The group has established a hedge ratio of 1:1 for the hedging relationship as the underlying risk of foreign exchange are identical to the hedged components. DEVELOPMENT IN THE EQUITY HEDGING RESERVE Amounts in NOK million 2024 2023 Opening balance hedging reserve before tax -607 -410 Reclassi\ufb01ed to P/L - operating revenues (-gain/+loss) 222 50 Reclassi\ufb01ed to P/L - operating costs (-gain/+loss) 1 3 Reclassi\ufb01ed to P/L - net \ufb01nancial income (-gain/+loss) 7 -1 Reclassi\ufb01ed to Balance sheet (-gain/+loss) 2 - Fair value change cash \ufb02ow hedges -611 -216 Change in gain/(loss) on hedges of net investments in subsidiaries -115 -32 Closing balance hedging reserve before tax -1,101 -607 Deferred tax and tax payable hedging reserve 250 141 Closing balance hedging reserve after tax -851 -466 A negative hedging reserve means a negative recognition in the income statement in the future. In 2024, the impact of hedging activities on the operating pro\ufb01t was NOK -365 million (NOK -268 million). The hedging impact from cash \ufb02ow hedges recognised in the equity hedging reserve as of 31 December 2024 are expected to be recycled to the income statement as follows (before tax): 2025: NOK -357 million After 2025: NOK -336 million Fair value hedges Gains and losses on derivatives designated as hedging instruments in fair value hedges are reported in the income statement and are offset by changes in the value of the hedged item. There have not been any signi\ufb01cant fair value hedges in the period 2024-2025. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-386": { "value": " The company also enters into currency derivatives contracts. Hedging instruments which satisfy the criteria for hedge accounting, are reported at fair value in the statement of \ufb01nancial position and changes in fair value are recognised in comprehensive income. Derivatives which do not satisfy the criteria for hedge accounting, are recognised at fair value through pro\ufb01t and loss. NOTE 29 DERIVATIVES AND HEDGING Derivatives are measured at fair value on the balance sheet date and reported as receivables or liabilities. Changes in fair value are reported in the income statement in cases where the derivative is not part of a hedge relationship that satis\ufb01es the criteria for hedge accounting. Embedded derivatives in contracts are identi\ufb01ed and measured separately. Purchases and sales of derivatives are recognised at trade date. The Group applies IFRS 9 on its \ufb01nancial instruments. Hedge accounting The Group\u2019s existing hedge relationships designated in effective hedging relationships qualify for hedge accounting under IFRS 9. The Group uses the following criteria for classifying a derivative or another \ufb01nancial instrument as a hedging instrument: (1) the hedging instrument is expected to be highly effective in offsetting the changes in fair value or the cash \ufb02ow of an identi\ufb01ed object, (2) the hedging effectiveness can be measured reliably, (3) satisfactory documentation is established before entering into the hedging instrument, showing among other things that the hedging relationship is effective, (4) for cash \ufb02ow hedges, that the future transaction is considered to be highly probable, and the hedging relationship is evaluated regularly and is considered to be effective. The table below shows the fair value of all outstanding derivative \ufb01nancial instruments grouped according to treatment in the \ufb01nancial statements: DERIVATIVES AND HEDGING 2024 2023 Amounts in NOK million Assets Liabilities Assets Liabilities Cash \ufb02ow hedges Currency forwards, currency swaps 5 610 105 378 Power hedges - - - - Interest swaps - - - - Embedded derivative - 88 9 50 Hedges of net investments Currency forwards, currency swaps - - 6 - Other derivatives - Fair value changes recognised in income statement Currency forwards, currency swaps, options 1 1 4 3 Total derivatives 6 699 124 431 Calculation of fair value \u2022 Currency forwards and currency swaps are measured at fair value using the observed forward exchange rate for contracts with a corresponding term to maturity at the balance sheet date. \u2022 The fair value of currency options is calculated using Garman-Kohlhagen\u2019s version of the Black Scholes Option pricing method, and the variables are based on observed indicative market prices at the balance sheet date. These derivative \ufb01nancial instruments are designated in hedge relationships as follows: Cash \ufb02ow hedges The effective part of changes in the fair value of a hedging instrument is recognised in comprehensive income and reclassi\ufb01ed to the income statement when the hedged transaction affects pro\ufb01t or loss and is presented on the same line as the hedged transaction. The ineffective part of the hedging instrument is reported in the income statement. When a hedging instrument is sold, exercised or terminated, the accumulated gains and losses at this point will remain in hedging reserve of equity and will be recognised in the income statement when the hedged transaction affects pro\ufb01t or loss. The group has established a hedge ratio of 1:1 for the hedging relationship as the underlying risk of foreign exchange are identical to the hedged components. If the hedged transaction is no longer expected to occur, the accumulated unrealised gain or loss recognised in the hedging reserve of equity will be recognised in the income statement immediately. Embedded EUR derivatives in power contracts are designed as hedging instruments to hedge currency \ufb02uctuations of highly probable future sales. In 2024, a loss of NOK 10 million (2023: loss of NOK 7.8 million) was recorded in the income statement as a result of hedging inef\ufb01ciency. All expected cash \ufb02ows which have been hedged during 2024 still qualify for hedge accounting. Hedges of net investments in foreign currencies Currency risk on foreign net investments is hedged with currency forward contracts and currency loans. Realised and unrealised effects of the effective part of the hedging instrument are recognised through comprehensive income. Effects from ineffective parts of the hedging instrument are recognised through pro\ufb01t and loss. The group has established a hedge ratio of 1:1 for the hedging relationship as the underlying risk of foreign exchange are identical to the hedged components. DEVELOPMENT IN THE EQUITY HEDGING RESERVE Amounts in NOK million 2024 2023 Opening balance hedging reserve before tax -607 -410 Reclassi\ufb01ed to P/L - operating revenues (-gain/+loss) 222 50 Reclassi\ufb01ed to P/L - operating costs (-gain/+loss) 1 3 Reclassi\ufb01ed to P/L - net \ufb01nancial income (-gain/+loss) 7 -1 Reclassi\ufb01ed to Balance sheet (-gain/+loss) 2 - Fair value change cash \ufb02ow hedges -611 -216 Change in gain/(loss) on hedges of net investments in subsidiaries -115 -32 Closing balance hedging reserve before tax -1,101 -607 Deferred tax and tax payable hedging reserve 250 141 Closing balance hedging reserve after tax -851 -466 A negative hedging reserve means a negative recognition in the income statement in the future. In 2024, the impact of hedging activities on the operating pro\ufb01t was NOK -365 million (NOK -268 million). The hedging impact from cash \ufb02ow hedges recognised in the equity hedging reserve as of 31 December 2024 are expected to be recycled to the income statement as follows (before tax): 2025: NOK -357 million After 2025: NOK -336 million Fair value hedges Gains and losses on derivatives designated as hedging instruments in fair value hedges are reported in the income statement and are offset by changes in the value of the hedged item. There have not been any signi\ufb01cant fair value hedges in the period 2024-2025. ", "dimensions": { "concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-385": { "value": " The company also enters into currency derivatives contracts. Hedging instruments which satisfy the criteria for hedge accounting, are reported at fair value in the statement of \ufb01nancial position and changes in fair value are recognised in comprehensive income. Derivatives which do not satisfy the criteria for hedge accounting, are recognised at fair value through pro\ufb01t and loss. Loans, as well as trade receivables, are held to collect contractual cash \ufb02ows and are expected to give rise to cash \ufb02ows solely representing payments of principal and interest. The Group analysed the contractual cash \ufb02ow characteristics of those instruments and concluded that they meet the criteria for amortised cost measurement under IFRS 9. The Group applied the simpli\ufb01ed approach and record lifetime expected losses on all trade receivables. The Group has considered that due to the historical low level of credit losses, the loss allowance will not be materially different from the current level. Transactions in foreign currencies are recognised at the exchange rate on the date of the transaction, while monetary items in foreign currencies are presented at the exchange rate on the balance sheet date, and any gain/ loss is reported in the income statement as \ufb01nancial items. Revenues and expenses in subsidiaries with a functional currency different from the Group\u2019s presentation currency are translated monthly at the average exchange rate for the month and accumulated. Statement of \ufb01nancial position items in subsidiaries with a different functional currency are translated at the exchange rate on the balance sheet date. Translation differences are reported in comprehensive income. Loans and receivables are carried at amortised cost. Thus, changes in fair value resulting from changes in interest rates during the interest rate period are not reported in the income statement. Borrowing costs related to the long-term funding are capitalised over the period of the loan facilities. Derivatives are measured at fair value on the balance sheet date and reported as receivables or liabilities. Changes in fair value are reported in the income statement in cases where the derivative is not part of a hedge relationship that satis\ufb01es the criteria for hedge accounting. Embedded derivatives in contracts are identi\ufb01ed and measured separately. Purchases and sales of derivatives are recognised at trade date. The Group applies IFRS 9 on its \ufb01nancial instruments. Hedge accounting The Group\u2019s existing hedge relationships designated in effective hedging relationships qualify for hedge accounting under IFRS 9. The Group uses the following criteria for classifying a derivative or another \ufb01nancial instrument as a hedging instrument: (1) the hedging instrument is expected to be highly effective in offsetting the changes in fair value or the cash \ufb02ow of an identi\ufb01ed object, (2) the hedging effectiveness can be measured reliably, (3) satisfactory documentation is established before entering into the hedging instrument, showing among other things that the hedging relationship is effective, (4) for cash \ufb02ow hedges, that the future transaction is considered to be highly probable, and the hedging relationship is evaluated regularly and is considered to be effective. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-384": { "value": " The company also enters into currency derivatives contracts. Hedging instruments which satisfy the criteria for hedge accounting, are reported at fair value in the statement of \ufb01nancial position and changes in fair value are recognised in comprehensive income. Derivatives which do not satisfy the criteria for hedge accounting, are recognised at fair value through pro\ufb01t and loss. Derivatives are measured at fair value on the balance sheet date and reported as receivables or liabilities. Changes in fair value are reported in the income statement in cases where the derivative is not part of a hedge relationship that satis\ufb01es the criteria for hedge accounting. Embedded derivatives in contracts are identi\ufb01ed and measured separately. Purchases and sales of derivatives are recognised at trade date. The Group applies IFRS 9 on its \ufb01nancial instruments. Hedge accounting The Group\u2019s existing hedge relationships designated in effective hedging relationships qualify for hedge accounting under IFRS 9. The Group uses the following criteria for classifying a derivative or another \ufb01nancial instrument as a hedging instrument: (1) the hedging instrument is expected to be highly effective in offsetting the changes in fair value or the cash \ufb02ow of an identi\ufb01ed object, (2) the hedging effectiveness can be measured reliably, (3) satisfactory documentation is established before entering into the hedging instrument, showing among other things that the hedging relationship is effective, (4) for cash \ufb02ow hedges, that the future transaction is considered to be highly probable, and the hedging relationship is evaluated regularly and is considered to be effective. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-382": { "value": " The company also enters into currency derivatives contracts. Hedging instruments which satisfy the criteria for hedge accounting, are reported at fair value in the statement of \ufb01nancial position and changes in fair value are recognised in comprehensive income. Derivatives which do not satisfy the criteria for hedge accounting, are recognised at fair value through pro\ufb01t and loss. Derivatives are measured at fair value on the balance sheet date and reported as receivables or liabilities. Changes in fair value are reported in the income statement in cases where the derivative is not part of a hedge relationship that satis\ufb01es the criteria for hedge accounting. Embedded derivatives in contracts are identi\ufb01ed and measured separately. Purchases and sales of derivatives are recognised at trade date. The Group applies IFRS 9 on its \ufb01nancial instruments. Hedge accounting The Group\u2019s existing hedge relationships designated in effective hedging relationships qualify for hedge accounting under IFRS 9. The Group uses the following criteria for classifying a derivative or another \ufb01nancial instrument as a hedging instrument: (1) the hedging instrument is expected to be highly effective in offsetting the changes in fair value or the cash \ufb02ow of an identi\ufb01ed object, (2) the hedging effectiveness can be measured reliably, (3) satisfactory documentation is established before entering into the hedging instrument, showing among other things that the hedging relationship is effective, (4) for cash \ufb02ow hedges, that the future transaction is considered to be highly probable, and the hedging relationship is evaluated regularly and is considered to be effective. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-383": { "value": " The company also enters into currency derivatives contracts. Hedging instruments which satisfy the criteria for hedge accounting, are reported at fair value in the statement of \ufb01nancial position and changes in fair value are recognised in comprehensive income. Derivatives which do not satisfy the criteria for hedge accounting, are recognised at fair value through pro\ufb01t and loss. Hedge accounting The Group\u2019s existing hedge relationships designated in effective hedging relationships qualify for hedge accounting under IFRS 9. The Group uses the following criteria for classifying a derivative or another \ufb01nancial instrument as a hedging instrument: (1) the hedging instrument is expected to be highly effective in offsetting the changes in fair value or the cash \ufb02ow of an identi\ufb01ed object, (2) the hedging effectiveness can be measured reliably, (3) satisfactory documentation is established before entering into the hedging instrument, showing among other things that the hedging relationship is effective, (4) for cash \ufb02ow hedges, that the future transaction is considered to be highly probable, and the hedging relationship is evaluated regularly and is considered to be effective. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-387": { "value": "Assets that no longer justify their value are written down to the recoverable amount, which is the higher of value in use and fair value minus selling costs. NOTE 05 IMPAIRMENT ASSESSMENTS Goodwill and intangible assets with an inde\ufb01nite useful life must be tested annually for impairment to assess whether the values are recoverable. Borregaard carries out this test prior to preparing and presenting its \ufb01nancial statements for the 3 rd quarter. If there are indications of impairments, the assets are tested immediately. A new impairment test is carried out in the 4 th quarter, when necessary, for instance if the underlying assumptions have changed. Borregaard has substantial non-current assets in the form of tangible (property, plant and equipment) and some minor intangible assets. An explanation of the details of and changes in these assets is presented separately in Note 17 and 18. Estimate uncertainty, in some cases considerable, attaches to both property, plant and equipment and intangible assets. Both valuation and estimated useful lifetime are based on future information that is always subject to a great degree of uncertainty. Borregaard routinely monitors assets and if there are indications that the value of an asset is no longer recoverable, an impairment test will be carried out to determine whether the asset can still justify its carrying value. If new estimates conclude that the value is no longer recoverable, the asset is written down to the recoverable amount, i.e. the greater of the net sales value and the value in use (discounted cash \ufb02ow). Cash \ufb02ows relating to the assets are identi\ufb01ed (see table below) and discounted. Future cash \ufb02ow is based on speci\ufb01ed assumptions and the plans adopted by the entity. If the discounted value of future cash \ufb02ows is lower than the capitalised value of the unit\u2019s capital employed, the assets are written down to the recoverable amount. If the discounted value is higher than the capital employed, this means that the value of the intangible asset or goodwill is recoverable. Borregaard\u2019s goodwill is related to the prior acquisition of Borregaard Czech and no impairment charges are identi\ufb01ed: GOODWILL Amounts in NOK million 2024 2023 Borregaard Czech S. R. O 39 37 Total goodwill 39 37 Estimate assumptions and cash-generating units A cash-generating unit (CGU) is the lowest level at which independent cash \ufb02ows can be measured. The biore\ufb01nery in Sarpsborg is considered to be one CGU as the production facilities are integrated and the production process relies on the same raw material (wood). Based on the forecasts, expectations and assumptions that were applied, Borregaard Czech\u2019s capitalised value of goodwill at 31 December 2024 and the fair value exceeds the book value. Calculations of future cash \ufb02ows are based on a number of assumptions regarding both economic trends and the estimated useful life. Borregaard is affected by \ufb02uctuating markets and estimates made in weak markets can differ substantially from estimates made in stronger markets. The discount rate applied is based on the Group\u2019s cost of capital, which has been estimated to be 10% before tax, based on a weighted average of required rates of return for the Group\u2019s equity and debt (WACC). The required rate of return on the Group\u2019s equity is estimated by using the capital asset pricing model (CAPM). The required rate of return on debt is estimated on the basis of a long-term risk-free interest rate to which is added a credit margin derived from Borregaard\u2019s marginal long-term borrowing rate. The discount rate is adjusted for country risk, the level of in\ufb02ation and operational risk, depending on the particular value being calculated. Future cash \ufb02ows are estimated on the basis of the budget for next year and the following two forecast years. As from year four a terminal value is calculated. Cash \ufb02ow estimates are sensitive to changes in sales revenues, raw material and energy prices and the coherent ability to maintain margin assumptions. The sensitivity of the estimates, even when there is a reasonable possibility of a change in assumptions, did not give grounds for impairment charges. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-467": { "value": "All amounts are in NOK million unless otherwise stated. The functional currency of the parent company (Borregaard ASA) is NOK and the Group\u2019s reporting currency is NOK. Currency exchange rates as of 31 December are used in the balance sheet, whereas average currency exchange rates are used in the pro\ufb01t and loss. The foreign exchange element in currency forward contracts is measured at observable market prices using the foreign exchange rate set by Norges Bank, Norway\u2019s central bank. Different maturity dates add an interest rate element resulting in an estimated fair value of the currency forward contracts. Borregaard had one item de\ufb01ned as level 1 at the end of 2023. This item was transferred from level 1 to level 2 in the measurement hierarchy during 2024. A description of how the derivatives are measured is provided in Note 29. FOREIGN EXCHANGE CONTRACTS LINKED TO HEDGING OF FUTURE REVENUES AND COSTS 2024 Amounts in million Purchase currency Amount Sale currency Amount Maturity USD 2 NOK 19 2025 NOK 1,572 USD 158 2025 NOK 1,567 USD 150 2026 NOK 1,086 USD 102 2027 EUR 2 USD 2 2025 EUR 2 NOK 18 2025 NOK 1,365 EUR 125 2025 NOK 1,389 EUR 119 2026 NOK 1,049 EUR 87 2027 SEK 66 NOK 68 2025 2023 Amounts in million Purchase currency Amount Sale currency Amount Maturity USD 2 NOK 19 2024 NOK 1,557 USD 168 2024 NOK 1,572 USD 158 2025 NOK 1,094 USD 106 2026 EUR 1 USD 1 2024 EUR 5 NOK 53 2024 EUR 2 NOK 18 2025 NOK 1,314 EUR 124 2024 NOK 1,365 EUR 125 2025 NOK 973 EUR 83 2026 SEK 48 NOK 48 2024 ", "dimensions": { "concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-388": { "value": "All amounts are in NOK million unless otherwise stated. The functional currency of the parent company (Borregaard ASA) is NOK and the Group\u2019s reporting currency is NOK. Currency exchange rates as of 31 December are used in the balance sheet, whereas average currency exchange rates are used in the pro\ufb01t and loss. The foreign exchange element in currency forward contracts is measured at observable market prices using the foreign exchange rate set by Norges Bank, Norway\u2019s central bank. Different maturity dates add an interest rate element resulting in an estimated fair value of the currency forward contracts. Borregaard had one item de\ufb01ned as level 1 at the end of 2023. This item was transferred from level 1 to level 2 in the measurement hierarchy during 2024. A description of how the derivatives are measured is provided in Note 29. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "mtpnn12": { "value": "Interests in companies in which the Group alone has control (subsidiaries) have been fully consolidated, line by line, in the consolidated \ufb01nancial statements from the date the Group acquired control. These entities will be fully consolidated until the date such control ends. An investor controls an investee when the investor is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. If the Group controls a subsidiary, the non-controlling interests\u2019 share of pro\ufb01t or loss after tax and their share of equity are presented on separate lines. Interests in companies in which the Group together with others has joint control or has an ownership between 20\u201350% (joint ventures and associate companies, see Note 6) are consolidated based on the equity method. The pro\ufb01t or loss from the joint venture and associate companies is part of \ufb01nancial items. NOTE 06 JOINT VENTURE AND ASSOCIATE COMPANIES The Group has a 50% interest in Umkomaas Lignin Ltd (LignoTech South Africa). The Group\u2019s interest in the joint venture is accounted for using the equity method in the consolidated \ufb01nancial statements. In October 2020, the owners of LignoTech South Africa, Borregaard and the Sappi Group announced the decision to permanently close the lignin production facility and to terminate the co-operation agreement. The closure was a consequence of Sappi\u2019s decision to convert their calcium sulphite pulp line, which is the source of lignin raw material, to magnesium technology. After the conversion, the spent liquor from the pulping process is burnt, and the energy and chemicals are recovered. Final settlements and liquidation will be set in 2025 with limited pro\ufb01t and loss effects. As of 31 December 2024, total assets were NOK 1 million (NOK 1 million) in LignoTech South Africa and total liabilities were NOK 0 million (NOK 0 million). Borregaard's carrying amount of the investment is 50%. 2024 2023 Share in joint venture 1 January - 3 Share of pro\ufb01t after tax 4 Dividend -7 Currency translation effect - Share in joint venture 31 December - - Associate companies Alginor is a Norwegian marine biotech company based in the Haugesund region of Southwestern Norway. The company is developing a fully integrated and sustainable value chain based on harvesting and biore\ufb01ning of the brown kelp Laminaria hyperborea \u2013 a renewable marine resource growing in abundance along the Norwegian coastline. Alginor will target global markets for pharmaceutical and nutraceutical applications. In 2021, Borregaard invested NOK 145 million in Alginor ASA and held 25% of the shares as of 31 December 2022. Borregaard\u2019s share of Alginor\u2019s result after tax is recognised as part of \u201cFinancial items\u201d. In April 2023, Alginor executed an additional direct equity issue exclusively to Borregaard. This equity issue brought Borregaard\u2019s ownership in Alginor up to 35% on a fully diluted basis and another NOK 124 million in equity to Alginor. In 2024, Borregaard has participated with its fully diluted pro-rata share (35%) in two capital raises with a total amount of NOK 150 million. In total, Borregaard has invested NOK 419 million in Alginor. Purchase price allocation Alginor The difference between the purchase price of the shares in Alginor ASA and Borregaard\u2019s share of the booked equity at the time of the acquisition is allocated to intangible assets as it relates to development of the technology to be used in Alginor\u2019s business. The purchase price, including acquisition costs, of 35% of the shares on a fully diluted basis is NOK 419 million of which NOK 87 million is allocated as intangible assets. BORREGAARD'S SHARE OF ALGINOR ASA Amounts in NOK million 2024 2023 Operating revenues - - Pro\ufb01t before taxes -54 -26 Pro\ufb01t/loss for the year before dividend -54 -26 Borregaard's share of pro\ufb01t -19 -9 Non-current assets 707 362 Current assets 339 181 Non-current liabilities -168 -52 Current liabilities -22 -10 Equity 856 481 Borregaard's share of equity 300 168 Goodwill - - Other intangible assets 87 87 Borregaard's carrying amount of the investment 387 255 At the end of 2023, Borregaard invested NOK 34 million for a 12% ownership share in Kaffe Bueno ApS. Kaffe Bueno produces ingredients for a wide range of products in everything from agriculture to cosmetics and foodstuffs based on biore\ufb01ning of by-products from coffee production. Used coffee grounds, timber and algae do not only have cellulose in common. As sustainable raw materials for valuable products, they all represent excellent resource utilisation in a circular economy perspective. Borregaard has been granted warrants to subscribe for additional shares in the company by January 2026. If exercised in full, these warrants will bring Borregaard\u2019s ownership share up to 34%. Borregaard has one representative in Kaffe Bueno's board of directors. The investments are accounted for using the equity method. Borregaards share of the pro\ufb01t was NOK -3 million for 2024. As of 31 December 2024, total equity in Kaffe Bueno was NOK 35 million (NOK 58 million), non-current liabilities amounted to NOK 4 million (NOK 5 million) and current liabilities amounted to NOK 29 million (NOK 27 million). Purchase price allocation Ka\ufb00e Bueno The difference between the purchase price of the shares in Kaffe Bueno ApS and Borregaard\u2019s share of the booked equity at the time of the acquisition is allocated to intangible assets as it relates to development of the technology to be used in Kaffe Bueno's business. The purchase price, including acquisition costs, of 12% of the shares is NOK 34 million of which NOK 29 million is allocated as intangible assets. RECONCILIATION OF INVESTMENTS IN JOINT VENTURE AND ASSOCIATE COMPANIES 2024 2023 Borregaard's carrying value in joint venture and associate companies 1 January 289 142 Borregaard's share of pro\ufb01t from joint venture and associate companies -22 -4 Dividend/repayment of capital from joint venture and associate companies - -7 Capital raise 150 158 Borregaard's carrying value in joint venture and associate companies 31 December 417 289 As of 31 December 2024, Borregaard has share investments of NOK 28 million in bio-based start-ups (Lignovations and Oceanium) and other companies. These investments are a result of Borregaard\u2019s business development strategy and complement the existing business portfolio. Amounts in NOK million 2024 2023 Share investments 28 28 Non interest-bearing derivatives (Note 19) 1 93 Receivables interest-bearing (Note 19) 1 2 Receivables non interest-bearing (Note 19) 190 182 Total \ufb01nancial assets 220 305 Net pension plan (Note 10) 184 131 Total other assets 404 436 NOTE 31 NON-CONTROLLING INTERESTS As of 31 December 2024, non-controlling interests consist of LignoTech Ib\u00e9rica SA and LignoTech Florida LLC. Borregaard owns 60% of LignoTech Ib\u00e9rica located in Spain and 55% of LignoTech Florida located in USA. In 2020, LignoTech Ib\u00e9rica lost its local lignin source when Sniace's cellulose business went bankrupt and had to close. Production at the lignin plant was discontinued and liquidation will be \ufb01nalised in 2025. The entities are fully consolidated into the Borregaard Group\u2019s \ufb01nancial statements and minority interests are recognised. As of 31 December 2024, current assets were NOK 204 million (NOK 149 million) in LignoTech Florida and non-current assets amounted to NOK 840 million (NOK 825 million). Current liabilities were NOK 273 million (NOK 230 million) and non- current liabilities amounted to NOK 718 million (NOK 694 million). LignoTech Florida had a loss for the year of NOK -3 million in 2024 (NOK -42 million). Amounts in NOK million 2024 2023 Changes in non-controlling interests: Non-controlling interests 1 January 39 51 Non-controlling interests\u2019 share of pro\ufb01t/loss 6 -14 Translation differences, etc. 4 2 Non-controlling interests 31 December 49 39 ", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "mtpnn11": { "value": "Interests in companies in which the Group alone has control (subsidiaries) have been fully consolidated, line by line, in the consolidated \ufb01nancial statements from the date the Group acquired control. These entities will be fully consolidated until the date such control ends. An investor controls an investee when the investor is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. If the Group controls a subsidiary, the non-controlling interests\u2019 share of pro\ufb01t or loss after tax and their share of equity are presented on separate lines. NOTE 31 NON-CONTROLLING INTERESTS As of 31 December 2024, non-controlling interests consist of LignoTech Ib\u00e9rica SA and LignoTech Florida LLC. Borregaard owns 60% of LignoTech Ib\u00e9rica located in Spain and 55% of LignoTech Florida located in USA. In 2020, LignoTech Ib\u00e9rica lost its local lignin source when Sniace's cellulose business went bankrupt and had to close. Production at the lignin plant was discontinued and liquidation will be \ufb01nalised in 2025. The entities are fully consolidated into the Borregaard Group\u2019s \ufb01nancial statements and minority interests are recognised. As of 31 December 2024, current assets were NOK 204 million (NOK 149 million) in LignoTech Florida and non-current assets amounted to NOK 840 million (NOK 825 million). Current liabilities were NOK 273 million (NOK 230 million) and non- current liabilities amounted to NOK 718 million (NOK 694 million). LignoTech Florida had a loss for the year of NOK -3 million in 2024 (NOK -42 million). Amounts in NOK million 2024 2023 Changes in non-controlling interests: Non-controlling interests 1 January 39 51 Non-controlling interests\u2019 share of pro\ufb01t/loss 6 -14 Translation differences, etc. 4 2 Non-controlling interests 31 December 49 39 ", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-389": { "value": "Interests in companies in which the Group alone has control (subsidiaries) have been fully consolidated, line by line, in the consolidated \ufb01nancial statements from the date the Group acquired control. These entities will be fully consolidated until the date such control ends. An investor controls an investee when the investor is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. If the Group controls a subsidiary, the non-controlling interests\u2019 share of pro\ufb01t or loss after tax and their share of equity are presented on separate lines. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-390": { "value": "Interests in companies in which the Group together with others has joint control or has an ownership between 20\u201350% (joint ventures and associate companies, see Note 6) are consolidated based on the equity method. The pro\ufb01t or loss from the joint venture and associate companies is part of \ufb01nancial items. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-400": { "value": "Interests in companies in which the Group together with others has joint control or has an ownership between 20\u201350% (joint ventures and associate companies, see Note 6) are consolidated based on the equity method. The pro\ufb01t or loss from the joint venture and associate companies is part of \ufb01nancial items. NOTE 06 JOINT VENTURE AND ASSOCIATE COMPANIES The Group has a 50% interest in Umkomaas Lignin Ltd (LignoTech South Africa). The Group\u2019s interest in the joint venture is accounted for using the equity method in the consolidated \ufb01nancial statements. In October 2020, the owners of LignoTech South Africa, Borregaard and the Sappi Group announced the decision to permanently close the lignin production facility and to terminate the co-operation agreement. The closure was a consequence of Sappi\u2019s decision to convert their calcium sulphite pulp line, which is the source of lignin raw material, to magnesium technology. After the conversion, the spent liquor from the pulping process is burnt, and the energy and chemicals are recovered. Final settlements and liquidation will be set in 2025 with limited pro\ufb01t and loss effects. As of 31 December 2024, total assets were NOK 1 million (NOK 1 million) in LignoTech South Africa and total liabilities were NOK 0 million (NOK 0 million). Borregaard's carrying amount of the investment is 50%. 2024 2023 Share in joint venture 1 January - 3 Share of pro\ufb01t after tax 4 Dividend -7 Currency translation effect - Share in joint venture 31 December - - Associate companies Alginor is a Norwegian marine biotech company based in the Haugesund region of Southwestern Norway. The company is developing a fully integrated and sustainable value chain based on harvesting and biore\ufb01ning of the brown kelp Laminaria hyperborea \u2013 a renewable marine resource growing in abundance along the Norwegian coastline. Alginor will target global markets for pharmaceutical and nutraceutical applications. In 2021, Borregaard invested NOK 145 million in Alginor ASA and held 25% of the shares as of 31 December 2022. Borregaard\u2019s share of Alginor\u2019s result after tax is recognised as part of \u201cFinancial items\u201d. In April 2023, Alginor executed an additional direct equity issue exclusively to Borregaard. This equity issue brought Borregaard\u2019s ownership in Alginor up to 35% on a fully diluted basis and another NOK 124 million in equity to Alginor. In 2024, Borregaard has participated with its fully diluted pro-rata share (35%) in two capital raises with a total amount of NOK 150 million. In total, Borregaard has invested NOK 419 million in Alginor. Purchase price allocation Alginor The difference between the purchase price of the shares in Alginor ASA and Borregaard\u2019s share of the booked equity at the time of the acquisition is allocated to intangible assets as it relates to development of the technology to be used in Alginor\u2019s business. The purchase price, including acquisition costs, of 35% of the shares on a fully diluted basis is NOK 419 million of which NOK 87 million is allocated as intangible assets. BORREGAARD'S SHARE OF ALGINOR ASA Amounts in NOK million 2024 2023 Operating revenues - - Pro\ufb01t before taxes -54 -26 Pro\ufb01t/loss for the year before dividend -54 -26 Borregaard's share of pro\ufb01t -19 -9 Non-current assets 707 362 Current assets 339 181 Non-current liabilities -168 -52 Current liabilities -22 -10 Equity 856 481 Borregaard's share of equity 300 168 Goodwill - - Other intangible assets 87 87 Borregaard's carrying amount of the investment 387 255 At the end of 2023, Borregaard invested NOK 34 million for a 12% ownership share in Kaffe Bueno ApS. Kaffe Bueno produces ingredients for a wide range of products in everything from agriculture to cosmetics and foodstuffs based on biore\ufb01ning of by-products from coffee production. Used coffee grounds, timber and algae do not only have cellulose in common. As sustainable raw materials for valuable products, they all represent excellent resource utilisation in a circular economy perspective. Borregaard has been granted warrants to subscribe for additional shares in the company by January 2026. If exercised in full, these warrants will bring Borregaard\u2019s ownership share up to 34%. Borregaard has one representative in Kaffe Bueno's board of directors. The investments are accounted for using the equity method. Borregaards share of the pro\ufb01t was NOK -3 million for 2024. As of 31 December 2024, total equity in Kaffe Bueno was NOK 35 million (NOK 58 million), non-current liabilities amounted to NOK 4 million (NOK 5 million) and current liabilities amounted to NOK 29 million (NOK 27 million). Purchase price allocation Ka\ufb00e Bueno The difference between the purchase price of the shares in Kaffe Bueno ApS and Borregaard\u2019s share of the booked equity at the time of the acquisition is allocated to intangible assets as it relates to development of the technology to be used in Kaffe Bueno's business. The purchase price, including acquisition costs, of 12% of the shares is NOK 34 million of which NOK 29 million is allocated as intangible assets. RECONCILIATION OF INVESTMENTS IN JOINT VENTURE AND ASSOCIATE COMPANIES 2024 2023 Borregaard's carrying value in joint venture and associate companies 1 January 289 142 Borregaard's share of pro\ufb01t from joint venture and associate companies -22 -4 Dividend/repayment of capital from joint venture and associate companies - -7 Capital raise 150 158 Borregaard's carrying value in joint venture and associate companies 31 December 417 289 ", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-402": { "value": "Interests in companies in which the Group together with others has joint control or has an ownership between 20\u201350% (joint ventures and associate companies, see Note 6) are consolidated based on the equity method. The pro\ufb01t or loss from the joint venture and associate companies is part of \ufb01nancial items. Associate companies Alginor is a Norwegian marine biotech company based in the Haugesund region of Southwestern Norway. The company is developing a fully integrated and sustainable value chain based on harvesting and biore\ufb01ning of the brown kelp Laminaria hyperborea \u2013 a renewable marine resource growing in abundance along the Norwegian coastline. Alginor will target global markets for pharmaceutical and nutraceutical applications. In 2021, Borregaard invested NOK 145 million in Alginor ASA and held 25% of the shares as of 31 December 2022. Borregaard\u2019s share of Alginor\u2019s result after tax is recognised as part of \u201cFinancial items\u201d. In April 2023, Alginor executed an additional direct equity issue exclusively to Borregaard. This equity issue brought Borregaard\u2019s ownership in Alginor up to 35% on a fully diluted basis and another NOK 124 million in equity to Alginor. In 2024, Borregaard has participated with its fully diluted pro-rata share (35%) in two capital raises with a total amount of NOK 150 million. In total, Borregaard has invested NOK 419 million in Alginor. Purchase price allocation Alginor The difference between the purchase price of the shares in Alginor ASA and Borregaard\u2019s share of the booked equity at the time of the acquisition is allocated to intangible assets as it relates to development of the technology to be used in Alginor\u2019s business. The purchase price, including acquisition costs, of 35% of the shares on a fully diluted basis is NOK 419 million of which NOK 87 million is allocated as intangible assets. BORREGAARD'S SHARE OF ALGINOR ASA Amounts in NOK million 2024 2023 Operating revenues - - Pro\ufb01t before taxes -54 -26 Pro\ufb01t/loss for the year before dividend -54 -26 Borregaard's share of pro\ufb01t -19 -9 Non-current assets 707 362 Current assets 339 181 Non-current liabilities -168 -52 Current liabilities -22 -10 Equity 856 481 Borregaard's share of equity 300 168 Goodwill - - Other intangible assets 87 87 Borregaard's carrying amount of the investment 387 255 At the end of 2023, Borregaard invested NOK 34 million for a 12% ownership share in Kaffe Bueno ApS. Kaffe Bueno produces ingredients for a wide range of products in everything from agriculture to cosmetics and foodstuffs based on biore\ufb01ning of by-products from coffee production. Used coffee grounds, timber and algae do not only have cellulose in common. As sustainable raw materials for valuable products, they all represent excellent resource utilisation in a circular economy perspective. Borregaard has been granted warrants to subscribe for additional shares in the company by January 2026. If exercised in full, these warrants will bring Borregaard\u2019s ownership share up to 34%. Borregaard has one representative in Kaffe Bueno's board of directors. The investments are accounted for using the equity method. Borregaards share of the pro\ufb01t was NOK -3 million for 2024. As of 31 December 2024, total equity in Kaffe Bueno was NOK 35 million (NOK 58 million), non-current liabilities amounted to NOK 4 million (NOK 5 million) and current liabilities amounted to NOK 29 million (NOK 27 million). Purchase price allocation Ka\ufb00e Bueno The difference between the purchase price of the shares in Kaffe Bueno ApS and Borregaard\u2019s share of the booked equity at the time of the acquisition is allocated to intangible assets as it relates to development of the technology to be used in Kaffe Bueno's business. The purchase price, including acquisition costs, of 12% of the shares is NOK 34 million of which NOK 29 million is allocated as intangible assets. RECONCILIATION OF INVESTMENTS IN JOINT VENTURE AND ASSOCIATE COMPANIES 2024 2023 Borregaard's carrying value in joint venture and associate companies 1 January 289 142 Borregaard's share of pro\ufb01t from joint venture and associate companies -22 -4 Dividend/repayment of capital from joint venture and associate companies - -7 Capital raise 150 158 Borregaard's carrying value in joint venture and associate companies 31 December 417 289 ", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInAssociatesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-391": { "value": "Interests in companies in which the Group together with others has joint control or has an ownership between 20\u201350% (joint ventures and associate companies, see Note 6) are consolidated based on the equity method. The pro\ufb01t or loss from the joint venture and associate companies is part of \ufb01nancial items. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociates", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-401": { "value": "Interests in companies in which the Group together with others has joint control or has an ownership between 20\u201350% (joint ventures and associate companies, see Note 6) are consolidated based on the equity method. The pro\ufb01t or loss from the joint venture and associate companies is part of \ufb01nancial items. The Group has a 50% interest in Umkomaas Lignin Ltd (LignoTech South Africa). The Group\u2019s interest in the joint venture is accounted for using the equity method in the consolidated \ufb01nancial statements. In October 2020, the owners of LignoTech South Africa, Borregaard and the Sappi Group announced the decision to permanently close the lignin production facility and to terminate the co-operation agreement. The closure was a consequence of Sappi\u2019s decision to convert their calcium sulphite pulp line, which is the source of lignin raw material, to magnesium technology. After the conversion, the spent liquor from the pulping process is burnt, and the energy and chemicals are recovered. Final settlements and liquidation will be set in 2025 with limited pro\ufb01t and loss effects. As of 31 December 2024, total assets were NOK 1 million (NOK 1 million) in LignoTech South Africa and total liabilities were NOK 0 million (NOK 0 million). Borregaard's carrying amount of the investment is 50%. 2024 2023 Share in joint venture 1 January - 3 Share of pro\ufb01t after tax 4 Dividend -7 Currency translation effect - Share in joint venture 31 December - - ", "dimensions": { "concept": "ifrs-full:DisclosureOfJointVenturesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-392": { "value": "Interests in companies in which the Group together with others has joint control or has an ownership between 20\u201350% (joint ventures and associate companies, see Note 6) are consolidated based on the equity method. The pro\ufb01t or loss from the joint venture and associate companies is part of \ufb01nancial items. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsInJointVentures", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-395": { "value": "Business combinations are accounted for using the acquisition method. In connection with the acquisition of a subsidiary, the establishment of a joint venture or any acquisitions of signi\ufb01cant in\ufb02uence in associates, a purchase price allocation is carried out. The acquisition is reported in the \ufb01nancial statements from the date the Group has control. The date of control is normally the date on which the acquisition agreement takes effect and has been approved by all relevant authorities. Assets and liabilities are measured at fair value at the time of acquisition. If there are non-controlling interests in the acquired company, these will be measured at their share of identi\ufb01ed assets and liabilities. Goodwill allocated to non-controlling interests is considered separately in each acquisition. Goodwill is determined as the excess of the purchase price and the amount recognised as non-controlling interest over the fair value of identi\ufb01ed assets and liabilities assumed. Goodwill is initially measured at cost, being the excess of the aggregate of the transferred and the amount recognised for non-controlling interest over the net identi\ufb01ed asset acquired and liabilities assumed. If this consideration is lower than the fair value of the net assets of the subsidiary acquired, the difference is recognised in income statement. Amortisable intangible assets are amortised on a straight-line basis at the following rates: Development 20% and other intangible assets 10\u201315%. Development consists mainly of internal resources being involved in development projects. IT consists mainly of external costs. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "mtpnn16": { "value": "Business combinations are accounted for using the acquisition method. In connection with the acquisition of a subsidiary, the establishment of a joint venture or any acquisitions of signi\ufb01cant in\ufb02uence in associates, a purchase price allocation is carried out. The acquisition is reported in the \ufb01nancial statements from the date the Group has control. The date of control is normally the date on which the acquisition agreement takes effect and has been approved by all relevant authorities. Assets and liabilities are measured at fair value at the time of acquisition. If there are non-controlling interests in the acquired company, these will be measured at their share of identi\ufb01ed assets and liabilities. Goodwill allocated to non-controlling interests is considered separately in each acquisition. Goodwill is determined as the excess of the purchase price and the amount recognised as non-controlling interest over the fair value of identi\ufb01ed assets and liabilities assumed. ", "dimensions": { "concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-393": { "value": "Business combinations are accounted for using the acquisition method. In connection with the acquisition of a subsidiary, the establishment of a joint venture or any acquisitions of signi\ufb01cant in\ufb02uence in associates, a purchase price allocation is carried out. The acquisition is reported in the \ufb01nancial statements from the date the Group has control. The date of control is normally the date on which the acquisition agreement takes effect and has been approved by all relevant authorities. Assets and liabilities are measured at fair value at the time of acquisition. If there are non-controlling interests in the acquired company, these will be measured at their share of identi\ufb01ed assets and liabilities. Goodwill allocated to non-controlling interests is considered separately in each acquisition. Goodwill is determined as the excess of the purchase price and the amount recognised as non-controlling interest over the fair value of identi\ufb01ed assets and liabilities assumed. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "mtpnn38": { "value": "Business combinations are accounted for using the acquisition method. In connection with the acquisition of a subsidiary, the establishment of a joint venture or any acquisitions of signi\ufb01cant in\ufb02uence in associates, a purchase price allocation is carried out. The acquisition is reported in the \ufb01nancial statements from the date the Group has control. The date of control is normally the date on which the acquisition agreement takes effect and has been approved by all relevant authorities. Assets and liabilities are measured at fair value at the time of acquisition. If there are non-controlling interests in the acquired company, these will be measured at their share of identi\ufb01ed assets and liabilities. Goodwill allocated to non-controlling interests is considered separately in each acquisition. Goodwill is determined as the excess of the purchase price and the amount recognised as non-controlling interest over the fair value of identi\ufb01ed assets and liabilities assumed. NOTE 17 INTANGIBLE ASSETS Capitalised expenditure on internally generated or specially adapted computer programmes is presented as intangible assets. The reinvestment need of specially adapted computer programmes is similar to that of other tangible assets, and the amortisation of intangible assets are presented together with Borregaard\u2019s other depreciation. Research and development (R&D) expenditure is the expenses incurred by Borregaard in conducting research and development, including studies of existing or new products and production processes in order to secure future earnings. Expenditure on research is always expensed as incurred, while expenditure on development is recognised in the statement of \ufb01nancial position if the underlying economic factors are identi\ufb01able and represent probable future economic bene\ufb01ts of which Borregaard has control. Borregaard has a large number of projects in process at all times, but the number of projects that end in capitalisation is limited. This is due to the considerable uncertainty throughout the decision-making process and the fact that only a small percentage of all projects culminate in commercial products. Furthermore, the portion of the total project expenses that qualify for recognition in the statement of \ufb01nancial position are relatively small, as it is only from the time the decision to develop the product is made it can be capitalised, and that decision-making point comes at a late stage of the process. The fair value of intangible assets acquired by the company through business combinations is capitalised. Intangible assets with inde\ufb01nite life will not be amortised while other intangible assets will be amortised over their useful life. Goodwill is initially measured at cost, being the excess of the aggregate of the transferred and the amount recognised for non-controlling interest over the net identi\ufb01ed asset acquired and liabilities assumed. If this consideration is lower than the fair value of the net assets of the subsidiary acquired, the difference is recognised in income statement. Amortisable intangible assets are amortised on a straight-line basis at the following rates: Development 20% and other intangible assets 10\u201315%. Development consists mainly of internal resources being involved in development projects. IT consists mainly of external costs. Amounts in NOK million Development and other intangible assets IT Goodwill Total Book value 1 January 2024 15 32 37 84 Additions 1 17 - 18 Depreciation/Amortisation -8 -9 - -17 Impairment - - - - Currency translations 1 - 2 3 Book value 31 December 2024 9 40 39 88 Initial cost 31 December 2024 175 206 55 436 Accumulated amortisation and impairment -166 -166 -16 -348 Book value 31 December 2024 9 40 39 88 Book value 1 January 2023 22 26 34 82 Additions 2 14 - 16 Depreciation/Amortisation -9 -8 - -17 Impairment - - - - Currency translations - - 3 3 Book value 31 December 2023 15 32 37 84 Initial cost 31 December 2023 174 189 55 418 Accumulated amortisation and impairment -159 -157 -18 -334 Book value 31 December 2023 15 32 37 84 In addition, Borregaard expensed NOK 121 million in research costs in 2024 (NOK 99 million). The amounts include grants and other cost deductions. See Note 34. Emission rights Government granted and purchased CO\u2082 emission allowances expected to be used towards Borregaard\u2019s own emissions are recognised as intangible assets at nominal value (cost). In case there are actual CO\u2082 emissions exceeding the level covered by emission rights, those are recognised as a liability. Sale of government granted CO\u2082 emission rights are recognised at the time of sale at the transaction price. See table below for information regarding sale of, obligation to deliver and owned emission rights. Market price of the emission rights was EUR 72.78 as of 31 December 2024 (EUR 80.37). Emission rights Number of emission rights Emission rights 1 January 2023 690,066 Delivered emission rights for 2022 -143,042 Received emission rights for 2023 157,676 Sold emissions rights during 2023 -40,000 Emission rights 31 December 2023 664,700 Delivered emission rights for 2023 -120,107 Received emission rights for 2024 157,676 Sold emissions rights during 2024 -55,000 Emission rights 31 December 2024 647,269 Obligation to deliver emission rights for 2024 in 2025 -105,915 Available emission rights for 2025 541,354 ", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "mtpnn19": { "value": "Business combinations are accounted for using the acquisition method. In connection with the acquisition of a subsidiary, the establishment of a joint venture or any acquisitions of signi\ufb01cant in\ufb02uence in associates, a purchase price allocation is carried out. The acquisition is reported in the \ufb01nancial statements from the date the Group has control. The date of control is normally the date on which the acquisition agreement takes effect and has been approved by all relevant authorities. Assets and liabilities are measured at fair value at the time of acquisition. If there are non-controlling interests in the acquired company, these will be measured at their share of identi\ufb01ed assets and liabilities. Goodwill allocated to non-controlling interests is considered separately in each acquisition. Goodwill is determined as the excess of the purchase price and the amount recognised as non-controlling interest over the fair value of identi\ufb01ed assets and liabilities assumed. Capitalised expenditure on internally generated or specially adapted computer programmes is presented as intangible assets. The reinvestment need of specially adapted computer programmes is similar to that of other tangible assets, and the amortisation of intangible assets are presented together with Borregaard\u2019s other depreciation. Research and development (R&D) expenditure is the expenses incurred by Borregaard in conducting research and development, including studies of existing or new products and production processes in order to secure future earnings. Expenditure on research is always expensed as incurred, while expenditure on development is recognised in the statement of \ufb01nancial position if the underlying economic factors are identi\ufb01able and represent probable future economic bene\ufb01ts of which Borregaard has control. Borregaard has a large number of projects in process at all times, but the number of projects that end in capitalisation is limited. This is due to the considerable uncertainty throughout the decision-making process and the fact that only a small percentage of all projects culminate in commercial products. Furthermore, the portion of the total project expenses that qualify for recognition in the statement of \ufb01nancial position are relatively small, as it is only from the time the decision to develop the product is made it can be capitalised, and that decision-making point comes at a late stage of the process. The fair value of intangible assets acquired by the company through business combinations is capitalised. Intangible assets with inde\ufb01nite life will not be amortised while other intangible assets will be amortised over their useful life. Goodwill is initially measured at cost, being the excess of the aggregate of the transferred and the amount recognised for non-controlling interest over the net identi\ufb01ed asset acquired and liabilities assumed. If this consideration is lower than the fair value of the net assets of the subsidiary acquired, the difference is recognised in income statement. Amortisable intangible assets are amortised on a straight-line basis at the following rates: Development 20% and other intangible assets 10\u201315%. Development consists mainly of internal resources being involved in development projects. IT consists mainly of external costs. Emission rights Government granted and purchased CO\u2082 emission allowances expected to be used towards Borregaard\u2019s own emissions are recognised as intangible assets at nominal value (cost). In case there are actual CO\u2082 emissions exceeding the level covered by emission rights, those are recognised as a liability. Sale of government granted CO\u2082 emission rights are recognised at the time of sale at the transaction price. See table below for information regarding sale of, obligation to deliver and owned emission rights. Market price of the emission rights was EUR 72.78 as of 31 December 2024 (EUR 80.37). ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-432": { "value": "Business combinations are accounted for using the acquisition method. In connection with the acquisition of a subsidiary, the establishment of a joint venture or any acquisitions of signi\ufb01cant in\ufb02uence in associates, a purchase price allocation is carried out. The acquisition is reported in the \ufb01nancial statements from the date the Group has control. The date of control is normally the date on which the acquisition agreement takes effect and has been approved by all relevant authorities. Assets and liabilities are measured at fair value at the time of acquisition. If there are non-controlling interests in the acquired company, these will be measured at their share of identi\ufb01ed assets and liabilities. Goodwill allocated to non-controlling interests is considered separately in each acquisition. Goodwill is determined as the excess of the purchase price and the amount recognised as non-controlling interest over the fair value of identi\ufb01ed assets and liabilities assumed. NOTE 17 INTANGIBLE ASSETS Capitalised expenditure on internally generated or specially adapted computer programmes is presented as intangible assets. The reinvestment need of specially adapted computer programmes is similar to that of other tangible assets, and the amortisation of intangible assets are presented together with Borregaard\u2019s other depreciation. Research and development (R&D) expenditure is the expenses incurred by Borregaard in conducting research and development, including studies of existing or new products and production processes in order to secure future earnings. Expenditure on research is always expensed as incurred, while expenditure on development is recognised in the statement of \ufb01nancial position if the underlying economic factors are identi\ufb01able and represent probable future economic bene\ufb01ts of which Borregaard has control. Borregaard has a large number of projects in process at all times, but the number of projects that end in capitalisation is limited. This is due to the considerable uncertainty throughout the decision-making process and the fact that only a small percentage of all projects culminate in commercial products. Furthermore, the portion of the total project expenses that qualify for recognition in the statement of \ufb01nancial position are relatively small, as it is only from the time the decision to develop the product is made it can be capitalised, and that decision-making point comes at a late stage of the process. The fair value of intangible assets acquired by the company through business combinations is capitalised. Intangible assets with inde\ufb01nite life will not be amortised while other intangible assets will be amortised over their useful life. Goodwill is initially measured at cost, being the excess of the aggregate of the transferred and the amount recognised for non-controlling interest over the net identi\ufb01ed asset acquired and liabilities assumed. If this consideration is lower than the fair value of the net assets of the subsidiary acquired, the difference is recognised in income statement. Amortisable intangible assets are amortised on a straight-line basis at the following rates: Development 20% and other intangible assets 10\u201315%. Development consists mainly of internal resources being involved in development projects. IT consists mainly of external costs. Amounts in NOK million Development and other intangible assets IT Goodwill Total Book value 1 January 2024 15 32 37 84 Additions 1 17 - 18 Depreciation/Amortisation -8 -9 - -17 Impairment - - - - Currency translations 1 - 2 3 Book value 31 December 2024 9 40 39 88 Initial cost 31 December 2024 175 206 55 436 Accumulated amortisation and impairment -166 -166 -16 -348 Book value 31 December 2024 9 40 39 88 Book value 1 January 2023 22 26 34 82 Additions 2 14 - 16 Depreciation/Amortisation -9 -8 - -17 Impairment - - - - Currency translations - - 3 3 Book value 31 December 2023 15 32 37 84 Initial cost 31 December 2023 174 189 55 418 Accumulated amortisation and impairment -159 -157 -18 -334 Book value 31 December 2023 15 32 37 84 In addition, Borregaard expensed NOK 121 million in research costs in 2024 (NOK 99 million). The amounts include grants and other cost deductions. See Note 34. Emission rights Government granted and purchased CO\u2082 emission allowances expected to be used towards Borregaard\u2019s own emissions are recognised as intangible assets at nominal value (cost). In case there are actual CO\u2082 emissions exceeding the level covered by emission rights, those are recognised as a liability. Sale of government granted CO\u2082 emission rights are recognised at the time of sale at the transaction price. See table below for information regarding sale of, obligation to deliver and owned emission rights. Market price of the emission rights was EUR 72.78 as of 31 December 2024 (EUR 80.37). Emission rights Number of emission rights Emission rights 1 January 2023 690,066 Delivered emission rights for 2022 -143,042 Received emission rights for 2023 157,676 Sold emissions rights during 2023 -40,000 Emission rights 31 December 2023 664,700 Delivered emission rights for 2023 -120,107 Received emission rights for 2024 157,676 Sold emissions rights during 2024 -55,000 Emission rights 31 December 2024 647,269 Obligation to deliver emission rights for 2024 in 2025 -105,915 Available emission rights for 2025 541,354 ", "dimensions": { "concept": "ifrs-full:DisclosureOfGoodwillExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-394": { "value": "Business combinations are accounted for using the acquisition method. In connection with the acquisition of a subsidiary, the establishment of a joint venture or any acquisitions of signi\ufb01cant in\ufb02uence in associates, a purchase price allocation is carried out. The acquisition is reported in the \ufb01nancial statements from the date the Group has control. The date of control is normally the date on which the acquisition agreement takes effect and has been approved by all relevant authorities. Assets and liabilities are measured at fair value at the time of acquisition. If there are non-controlling interests in the acquired company, these will be measured at their share of identi\ufb01ed assets and liabilities. Goodwill allocated to non-controlling interests is considered separately in each acquisition. Goodwill is determined as the excess of the purchase price and the amount recognised as non-controlling interest over the fair value of identi\ufb01ed assets and liabilities assumed. Goodwill is initially measured at cost, being the excess of the aggregate of the transferred and the amount recognised for non-controlling interest over the net identi\ufb01ed asset acquired and liabilities assumed. If this consideration is lower than the fair value of the net assets of the subsidiary acquired, the difference is recognised in income statement. Amortisable intangible assets are amortised on a straight-line basis at the following rates: Development 20% and other intangible assets 10\u201315%. Development consists mainly of internal resources being involved in development projects. IT consists mainly of external costs. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "mtpnn51": { "value": "Contingent liabilities and contingent assets. A contingent liability or asset is a possible obligation or a possible asset whose existence is uncertain and will be con\ufb01rmed by the occurrence or non-occurrence of a future event, such as the outcome of legal proceedings or the \ufb01nal settlement of an insurance claim. Liabilities are recognised in the \ufb01nancial statements if there is a more than 50% probability that the liability has arisen; if the probability is lower, the matter is disclosed in notes to the \ufb01nancial statements unless the probability of payment is remote. An asset will only be recognised in the statement of \ufb01nancial position if it is virtually certain (95%) that the Group will realise the asset. The disclosure requirement applies to other contingent assets. NOTE 24 PROVISIONS AND OTHER NON-CURRENT LIABILITIES Provisions are recognised in the \ufb01nancial statements in the case of onerous contracts or when restructuring measures have been adopted. Future operating losses will not be part of the provisions. In the case of restructuring provisions, there must be a detailed plan that identi\ufb01es which parts of the business are to be restructured. The location and number of employees affected, and a valid expectation must have been created among those concerned that the restructuring will be carried out. In addition, it must be possible to provide a reliable estimate of the amount of the liability. It is a condition that the restructuring materially changes the size of the business or the way in which it is operated. The provision is calculated on the basis of the best estimate of expenses. If the effect is material, anticipated future cash \ufb02ows will be discounted using a current pre-tax interest rate that re\ufb02ects the risks speci\ufb01c to the provision. Amounts in NOK million 2024 2023 Unfunded pension (Note 10) 104 92 Derivatives (Note 19) 336 176 Other non-current liabilities 2 3 Total provisions and other non-current liabilities 442 271 ", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-459": { "value": "Contingent liabilities and contingent assets. A contingent liability or asset is a possible obligation or a possible asset whose existence is uncertain and will be con\ufb01rmed by the occurrence or non-occurrence of a future event, such as the outcome of legal proceedings or the \ufb01nal settlement of an insurance claim. Liabilities are recognised in the \ufb01nancial statements if there is a more than 50% probability that the liability has arisen; if the probability is lower, the matter is disclosed in notes to the \ufb01nancial statements unless the probability of payment is remote. An asset will only be recognised in the statement of \ufb01nancial position if it is virtually certain (95%) that the Group will realise the asset. The disclosure requirement applies to other contingent assets. NOTE 24 PROVISIONS AND OTHER NON-CURRENT LIABILITIES Provisions are recognised in the \ufb01nancial statements in the case of onerous contracts or when restructuring measures have been adopted. Future operating losses will not be part of the provisions. In the case of restructuring provisions, there must be a detailed plan that identi\ufb01es which parts of the business are to be restructured. The location and number of employees affected, and a valid expectation must have been created among those concerned that the restructuring will be carried out. In addition, it must be possible to provide a reliable estimate of the amount of the liability. It is a condition that the restructuring materially changes the size of the business or the way in which it is operated. The provision is calculated on the basis of the best estimate of expenses. If the effect is material, anticipated future cash \ufb02ows will be discounted using a current pre-tax interest rate that re\ufb02ects the risks speci\ufb01c to the provision. Amounts in NOK million 2024 2023 Unfunded pension (Note 10) 104 92 Derivatives (Note 19) 336 176 Other non-current liabilities 2 3 Total provisions and other non-current liabilities 442 271 ", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "mtpnn56": { "value": "Contingent liabilities and contingent assets. A contingent liability or asset is a possible obligation or a possible asset whose existence is uncertain and will be con\ufb01rmed by the occurrence or non-occurrence of a future event, such as the outcome of legal proceedings or the \ufb01nal settlement of an insurance claim. Liabilities are recognised in the \ufb01nancial statements if there is a more than 50% probability that the liability has arisen; if the probability is lower, the matter is disclosed in notes to the \ufb01nancial statements unless the probability of payment is remote. An asset will only be recognised in the statement of \ufb01nancial position if it is virtually certain (95%) that the Group will realise the asset. The disclosure requirement applies to other contingent assets. NOTE 32 PLEDGES AND GUARANTEES In 2017, LignoTech Florida LLC (55% owned by Borregaard) entered into a USD 60 million loan agreement as well as a USD 15 million overdraft facility. The owners will guarantee the loan and the overdraft facility on a pro rata basis until relevant \ufb01nancial conditions are met. As of 31 December 2024, USD 48.8 million of the facility was drawn. See Note 26 and 31. ", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "mtpnn21": { "value": "Contingent liabilities and contingent assets. A contingent liability or asset is a possible obligation or a possible asset whose existence is uncertain and will be con\ufb01rmed by the occurrence or non-occurrence of a future event, such as the outcome of legal proceedings or the \ufb01nal settlement of an insurance claim. Liabilities are recognised in the \ufb01nancial statements if there is a more than 50% probability that the liability has arisen; if the probability is lower, the matter is disclosed in notes to the \ufb01nancial statements unless the probability of payment is remote. An asset will only be recognised in the statement of \ufb01nancial position if it is virtually certain (95%) that the Group will realise the asset. The disclosure requirement applies to other contingent assets. ", "dimensions": { "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-396": { "value": "Contingent liabilities and contingent assets. A contingent liability or asset is a possible obligation or a possible asset whose existence is uncertain and will be con\ufb01rmed by the occurrence or non-occurrence of a future event, such as the outcome of legal proceedings or the \ufb01nal settlement of an insurance claim. Liabilities are recognised in the \ufb01nancial statements if there is a more than 50% probability that the liability has arisen; if the probability is lower, the matter is disclosed in notes to the \ufb01nancial statements unless the probability of payment is remote. An asset will only be recognised in the statement of \ufb01nancial position if it is virtually certain (95%) that the Group will realise the asset. The disclosure requirement applies to other contingent assets. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "mtpnn22": { "value": "NOTE 03 NEW ACCOUNTING STANDARDS The consolidated \ufb01nancial statements will be affected by IFRS amendments in the future. Many IFRS projects are \ufb01nalised, but some of them have either not been \ufb01nally adopted or not been endorsed by the EU. It is highly likely that many of these projects will be adopted. The Group\u2019s intention is to adopt the relevant new and amended standards and interpretations when they become effective and approved by EU. Amendments and interpretations that apply for the \ufb01rst time in 2025, do not have an impact on the consolidated \ufb01nancial statements of the Group. In April 2024, the IASB issued IFRS 18, which replaces IAS 1 Presentation of Financial Statements. IFRS 18 introduces new requirements for presentation within the statement of pro\ufb01t or loss, including speci\ufb01ed totals and subtotals. Furthermore, entities are required to classify all income and expenses within the statement of pro\ufb01t or loss into one of \ufb01ve categories: operating, investing, \ufb01nancing, income taxes and discontinued operations, whereof the \ufb01rst three are new. IFRS 18 also requires disclosure of newly de\ufb01ned management-de\ufb01ned performance measures, subtotals of income and expenses, and includes new requirements for aggregation and disaggregation of \ufb01nancial information based on the identi\ufb01ed \u2018roles\u2019 of the primary \ufb01nancial statements (PFS) and the notes. In addition, narrow-Scope amendments have been made to IAS 7 Statement of Cash Flows, which include changing the starting point for determining cash \ufb02ows from operations under the indirect method, from \u2018pro\ufb01t or loss\u2019 to \u2018operating pro\ufb01t or loss\u2019 and removing the optionality around classi\ufb01cation of cash \ufb02ows from dividends and interest. In addition, there are consequential amendments to several other standards. IFRS 18, and the amendments to the other standards, are effective for reporting periods beginning on or after 1 January 2027, but earlier application is permitted and must be disclosed. IFRS 18 will apply retrospectively. The Group is currently working to identify all impacts the amendments will have on the primary \ufb01nancial statements and notes to the \ufb01nancial statements. ", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-397": { "value": "NOTE 03 NEW ACCOUNTING STANDARDS The consolidated \ufb01nancial statements will be affected by IFRS amendments in the future. Many IFRS projects are \ufb01nalised, but some of them have either not been \ufb01nally adopted or not been endorsed by the EU. It is highly likely that many of these projects will be adopted. The Group\u2019s intention is to adopt the relevant new and amended standards and interpretations when they become effective and approved by EU. Amendments and interpretations that apply for the \ufb01rst time in 2025, do not have an impact on the consolidated \ufb01nancial statements of the Group. In April 2024, the IASB issued IFRS 18, which replaces IAS 1 Presentation of Financial Statements. IFRS 18 introduces new requirements for presentation within the statement of pro\ufb01t or loss, including speci\ufb01ed totals and subtotals. Furthermore, entities are required to classify all income and expenses within the statement of pro\ufb01t or loss into one of \ufb01ve categories: operating, investing, \ufb01nancing, income taxes and discontinued operations, whereof the \ufb01rst three are new. IFRS 18 also requires disclosure of newly de\ufb01ned management-de\ufb01ned performance measures, subtotals of income and expenses, and includes new requirements for aggregation and disaggregation of \ufb01nancial information based on the identi\ufb01ed \u2018roles\u2019 of the primary \ufb01nancial statements (PFS) and the notes. In addition, narrow-Scope amendments have been made to IAS 7 Statement of Cash Flows, which include changing the starting point for determining cash \ufb02ows from operations under the indirect method, from \u2018pro\ufb01t or loss\u2019 to \u2018operating pro\ufb01t or loss\u2019 and removing the optionality around classi\ufb01cation of cash \ufb02ows from dividends and interest. In addition, there are consequential amendments to several other standards. IFRS 18, and the amendments to the other standards, are effective for reporting periods beginning on or after 1 January 2027, but earlier application is permitted and must be disclosed. IFRS 18 will apply retrospectively. The Group is currently working to identify all impacts the amendments will have on the primary \ufb01nancial statements and notes to the \ufb01nancial statements. ", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-398": { "value": "NOTE 04 USE OF ESTIMATES The management has made use of estimates and assumptions in preparing the \ufb01nancial statements. This applies to assets, liabilities, revenues, expenses and supplementary information related to contingent liabilities. Areas where estimates have considerable signi\ufb01cance are, for example: Amounts in NOK million Note Estimate/assumptions Carrying value 31 December 2024 Carrying value 31 December 2023 Right-of-use assets 12 Leases 508 527 Pension liabilities (net) 10 Economic and demographic assumptions 81 38 Environmental provisions 13, 35 Accrual related to ground conditions remediation of contaminated soil at the site in Norway -41 -22 Property, plant and equipment are largely based on a directly paid cost price and depreciated over estimated useful life. In the case of several of Borregaard\u2019s tangible assets, changes in assumptions may lead to substantial changes in value. Other estimates and assumptions are reported in various notes and any information that is not logically included in other notes is presented in Note 37 \"Other matters and subsequent events\". NOTE 05 IMPAIRMENT ASSESSMENTS Goodwill and intangible assets with an inde\ufb01nite useful life must be tested annually for impairment to assess whether the values are recoverable. Borregaard carries out this test prior to preparing and presenting its \ufb01nancial statements for the 3 rd quarter. If there are indications of impairments, the assets are tested immediately. A new impairment test is carried out in the 4 th quarter, when necessary, for instance if the underlying assumptions have changed. Borregaard has substantial non-current assets in the form of tangible (property, plant and equipment) and some minor intangible assets. An explanation of the details of and changes in these assets is presented separately in Note 17 and 18. Estimate uncertainty, in some cases considerable, attaches to both property, plant and equipment and intangible assets. Both valuation and estimated useful lifetime are based on future information that is always subject to a great degree of uncertainty. Borregaard routinely monitors assets and if there are indications that the value of an asset is no longer recoverable, an impairment test will be carried out to determine whether the asset can still justify its carrying value. If new estimates conclude that the value is no longer recoverable, the asset is written down to the recoverable amount, i.e. the greater of the net sales value and the value in use (discounted cash \ufb02ow). Cash \ufb02ows relating to the assets are identi\ufb01ed (see table below) and discounted. Future cash \ufb02ow is based on speci\ufb01ed assumptions and the plans adopted by the entity. If the discounted value of future cash \ufb02ows is lower than the capitalised value of the unit\u2019s capital employed, the assets are written down to the recoverable amount. If the discounted value is higher than the capital employed, this means that the value of the intangible asset or goodwill is recoverable. Borregaard\u2019s goodwill is related to the prior acquisition of Borregaard Czech and no impairment charges are identi\ufb01ed: GOODWILL Amounts in NOK million 2024 2023 Borregaard Czech S. R. O 39 37 Total goodwill 39 37 Estimate assumptions and cash-generating units A cash-generating unit (CGU) is the lowest level at which independent cash \ufb02ows can be measured. The biore\ufb01nery in Sarpsborg is considered to be one CGU as the production facilities are integrated and the production process relies on the same raw material (wood). Based on the forecasts, expectations and assumptions that were applied, Borregaard Czech\u2019s capitalised value of goodwill at 31 December 2024 and the fair value exceeds the book value. Calculations of future cash \ufb02ows are based on a number of assumptions regarding both economic trends and the estimated useful life. Borregaard is affected by \ufb02uctuating markets and estimates made in weak markets can differ substantially from estimates made in stronger markets. The discount rate applied is based on the Group\u2019s cost of capital, which has been estimated to be 10% before tax, based on a weighted average of required rates of return for the Group\u2019s equity and debt (WACC). The required rate of return on the Group\u2019s equity is estimated by using the capital asset pricing model (CAPM). The required rate of return on debt is estimated on the basis of a long-term risk-free interest rate to which is added a credit margin derived from Borregaard\u2019s marginal long-term borrowing rate. The discount rate is adjusted for country risk, the level of in\ufb02ation and operational risk, depending on the particular value being calculated. Future cash \ufb02ows are estimated on the basis of the budget for next year and the following two forecast years. As from year four a terminal value is calculated. Cash \ufb02ow estimates are sensitive to changes in sales revenues, raw material and energy prices and the coherent ability to maintain margin assumptions. The sensitivity of the estimates, even when there is a reasonable possibility of a change in assumptions, did not give grounds for impairment charges. Assumptions de\ufb01ned bene\ufb01t plans Borregaard uses the covered bonds interest rate on the Norwegian bene\ufb01t plans. The discount rate is \ufb01xed at the rate on high quality corporate bonds with the same lifetime as the pension liabilities (AA-rated corporate bonds). As a rule, parameters such as wage growth, growth in G (future social security wage base) and in\ufb02ation are set in accordance with recommendations on the various countries. The mortality estimate is based on up-to-date mortality tables for the various countries. Norway: K2013 BE, USA: Pri- 2012 collar base tables from 2012 projected forward using MP-2021. ASSUMPTIONS DEFINED BENEFIT PLANS NORWAY USA 2024 2023 2024 2023 Discount rate 4.5% 3.9% 5.7% 5.1% Rate of return on assets NA NA 5.7% 5.1% Future salary adjustment 4.00% 3.25% 4.0% 4.0% G-multiplier*/Future social security wage base 3.75% 3.25% 3.5% 3.5% Turnover 2.0% 1.5% 2.5% 2.5% Expected average remaining vesting period 8.8 10.7 - - * 1G is NOK 124.028 as of 31 December 2024 Sensitivity analysis The \ufb01nancial instruments of the Borregaard Group are exposed to different types of market risk which can affect the income statement or equity. Financial instruments, in particular derivatives, are applied as means of hedging both \ufb01nancial and operational exposure. In the table below, Borregaard presents a partial analysis of the sensitivity of \ufb01nancial instruments, where the isolated effect of each type of risk on the income statement and on equity is estimated. This is done on the basis of a selected reasonably possible change in market prices/rates on the statement of \ufb01nancial position as of 31 December. According to IFRS, the analysis covers only \ufb01nancial instruments and is not meant to give a complete overview of the Group\u2019s market risk, for instance: \u2022 For currency hedges of contracts entered into, changes in fair value of the hedging instrument will affect the income statement, while changes in the fair value of the underlying hedged contract offset by the hedging instrument will not be shown, as it is not a \ufb01nancial instrument. \u2022 If one of the parameters changes, the analysis will not take into account any correlation with other parameters. \u2022 Financial instruments denominated in the entities\u2019 functional currencies do not constitute any currency risk and are therefore not included in this analysis. Nor is the currency exposure on translation of such \ufb01nancial instruments to the presentation currency of the Group included, for the same reason. \u2022 No sensitivity analysis is performed for the power hedges as the exposure is considered immaterial. Generally, the effect on the income statement and equity of \ufb01nancial instruments in the table below is expected to offset the effects of the hedged items where \ufb01nancial instruments are part of a hedging relationship. SENSITIVITY FINANCIAL INSTRUMENTS 2024 ACCOUNTING EFFECTS ON Income statement of Equity of Amounts in NOK million Increase Decrease Increase Decrease Financial instruments in hedging relationships Interest rate risk (excluding leasing): 100 bp parallel shift in interest curves all currencies -16 16 - - Currency risk: 10% change in FX-rate USD/NOK - - -360 360 Currency risk: 10% change in FX-rate EUR/NOK - - -311 311 Currency risk: 10% change in FX-rate SEK/NOK - - 5 -5 SENSITIVITY FINANCIAL INSTRUMENTS 2023 ACCOUNTING EFFECTS ON Income statement of Equity of Amounts in NOK million Increase Decrease Increase Decrease Financial instruments in hedging relationships Interest rate risk (excluding leasing): 100 bp parallel shift in interest curves all currencies -16 16 - - Currency risk: 10% change in FX-rate USD/NOK - - -339 339 Currency risk: 10% change in FX-rate EUR/NOK - - -290 290 Currency risk: 10% change in FX-rate SEK/NOK - - 4 -4 Accounting effects of changes in market risk are classi\ufb01ed to income statement and equity according to where the effect of the changes in fair value will be recognised initially. Effects recognised in the income statement will also affect equity beyond the \ufb01gures presented in the table. ", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-434": { "value": "NOTE 05 IMPAIRMENT ASSESSMENTS Goodwill and intangible assets with an inde\ufb01nite useful life must be tested annually for impairment to assess whether the values are recoverable. Borregaard carries out this test prior to preparing and presenting its \ufb01nancial statements for the 3 rd quarter. If there are indications of impairments, the assets are tested immediately. A new impairment test is carried out in the 4 th quarter, when necessary, for instance if the underlying assumptions have changed. Borregaard has substantial non-current assets in the form of tangible (property, plant and equipment) and some minor intangible assets. An explanation of the details of and changes in these assets is presented separately in Note 17 and 18. Estimate uncertainty, in some cases considerable, attaches to both property, plant and equipment and intangible assets. Both valuation and estimated useful lifetime are based on future information that is always subject to a great degree of uncertainty. Borregaard routinely monitors assets and if there are indications that the value of an asset is no longer recoverable, an impairment test will be carried out to determine whether the asset can still justify its carrying value. If new estimates conclude that the value is no longer recoverable, the asset is written down to the recoverable amount, i.e. the greater of the net sales value and the value in use (discounted cash \ufb02ow). Cash \ufb02ows relating to the assets are identi\ufb01ed (see table below) and discounted. Future cash \ufb02ow is based on speci\ufb01ed assumptions and the plans adopted by the entity. If the discounted value of future cash \ufb02ows is lower than the capitalised value of the unit\u2019s capital employed, the assets are written down to the recoverable amount. If the discounted value is higher than the capital employed, this means that the value of the intangible asset or goodwill is recoverable. Borregaard\u2019s goodwill is related to the prior acquisition of Borregaard Czech and no impairment charges are identi\ufb01ed: GOODWILL Amounts in NOK million 2024 2023 Borregaard Czech S. R. O 39 37 Total goodwill 39 37 Estimate assumptions and cash-generating units A cash-generating unit (CGU) is the lowest level at which independent cash \ufb02ows can be measured. The biore\ufb01nery in Sarpsborg is considered to be one CGU as the production facilities are integrated and the production process relies on the same raw material (wood). Based on the forecasts, expectations and assumptions that were applied, Borregaard Czech\u2019s capitalised value of goodwill at 31 December 2024 and the fair value exceeds the book value. Calculations of future cash \ufb02ows are based on a number of assumptions regarding both economic trends and the estimated useful life. Borregaard is affected by \ufb02uctuating markets and estimates made in weak markets can differ substantially from estimates made in stronger markets. The discount rate applied is based on the Group\u2019s cost of capital, which has been estimated to be 10% before tax, based on a weighted average of required rates of return for the Group\u2019s equity and debt (WACC). The required rate of return on the Group\u2019s equity is estimated by using the capital asset pricing model (CAPM). The required rate of return on debt is estimated on the basis of a long-term risk-free interest rate to which is added a credit margin derived from Borregaard\u2019s marginal long-term borrowing rate. The discount rate is adjusted for country risk, the level of in\ufb02ation and operational risk, depending on the particular value being calculated. Future cash \ufb02ows are estimated on the basis of the budget for next year and the following two forecast years. As from year four a terminal value is calculated. Cash \ufb02ow estimates are sensitive to changes in sales revenues, raw material and energy prices and the coherent ability to maintain margin assumptions. The sensitivity of the estimates, even when there is a reasonable possibility of a change in assumptions, did not give grounds for impairment charges. NOTE 17 INTANGIBLE ASSETS Capitalised expenditure on internally generated or specially adapted computer programmes is presented as intangible assets. The reinvestment need of specially adapted computer programmes is similar to that of other tangible assets, and the amortisation of intangible assets are presented together with Borregaard\u2019s other depreciation. Research and development (R&D) expenditure is the expenses incurred by Borregaard in conducting research and development, including studies of existing or new products and production processes in order to secure future earnings. Expenditure on research is always expensed as incurred, while expenditure on development is recognised in the statement of \ufb01nancial position if the underlying economic factors are identi\ufb01able and represent probable future economic bene\ufb01ts of which Borregaard has control. Borregaard has a large number of projects in process at all times, but the number of projects that end in capitalisation is limited. This is due to the considerable uncertainty throughout the decision-making process and the fact that only a small percentage of all projects culminate in commercial products. Furthermore, the portion of the total project expenses that qualify for recognition in the statement of \ufb01nancial position are relatively small, as it is only from the time the decision to develop the product is made it can be capitalised, and that decision-making point comes at a late stage of the process. The fair value of intangible assets acquired by the company through business combinations is capitalised. Intangible assets with inde\ufb01nite life will not be amortised while other intangible assets will be amortised over their useful life. Goodwill is initially measured at cost, being the excess of the aggregate of the transferred and the amount recognised for non-controlling interest over the net identi\ufb01ed asset acquired and liabilities assumed. If this consideration is lower than the fair value of the net assets of the subsidiary acquired, the difference is recognised in income statement. Amortisable intangible assets are amortised on a straight-line basis at the following rates: Development 20% and other intangible assets 10\u201315%. Development consists mainly of internal resources being involved in development projects. IT consists mainly of external costs. Amounts in NOK million Development and other intangible assets IT Goodwill Total Book value 1 January 2024 15 32 37 84 Additions 1 17 - 18 Depreciation/Amortisation -8 -9 - -17 Impairment - - - - Currency translations 1 - 2 3 Book value 31 December 2024 9 40 39 88 Initial cost 31 December 2024 175 206 55 436 Accumulated amortisation and impairment -166 -166 -16 -348 Book value 31 December 2024 9 40 39 88 Book value 1 January 2023 22 26 34 82 Additions 2 14 - 16 Depreciation/Amortisation -9 -8 - -17 Impairment - - - - Currency translations - - 3 3 Book value 31 December 2023 15 32 37 84 Initial cost 31 December 2023 174 189 55 418 Accumulated amortisation and impairment -159 -157 -18 -334 Book value 31 December 2023 15 32 37 84 In addition, Borregaard expensed NOK 121 million in research costs in 2024 (NOK 99 million). The amounts include grants and other cost deductions. See Note 34. Emission rights Number of emission rights Emission rights 1 January 2023 690,066 Delivered emission rights for 2022 -143,042 Received emission rights for 2023 157,676 Sold emissions rights during 2023 -40,000 Emission rights 31 December 2023 664,700 Delivered emission rights for 2023 -120,107 Received emission rights for 2024 157,676 Sold emissions rights during 2024 -55,000 Emission rights 31 December 2024 647,269 Obligation to deliver emission rights for 2024 in 2025 -105,915 Available emission rights for 2025 541,354 NOTE 18 PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment are tangible assets intended for production, delivery of goods or administrative purposes and have a lasting useful life. They are recognised in the statement of \ufb01nancial position at cost minus any accumulated depreciation and impairment. Annual major maintenance stops are capitalised as part of property, plant and equipment and depreciated over a period of 12 months. All other maintenance and repairs are expensed under operating expenses as and when the maintenance is carried out, while expenditure on replacements or improvements is added to the cost price of the assets. Borrowing costs related to the construction of the Group\u2019s own property, plant and equipment are capitalised as part of the cost of the asset. Property, plant and equipment are depreciated on a straight-line basis over the useful life, at the following rates: buildings 2\u20135%, machinery, \ufb01xtures and \ufb01ttings mainly 4\u201320%, vehicles 15\u201325% and IT equipment 15\u201333%. The period of depreciation is reviewed each year and if there are changes in useful life, depreciation is adjusted. If there is any indication that an asset may be impaired, the asset will be written down to the recoverable amount if the recoverable amount is lower than the carrying value. The residual value is also calculated and if it is higher than the carrying value, depreciation is stopped. This applies in particular to buildings. The Group is committed to ful\ufb01l contracts amounting to NOK 34 million which is not recorded in the statement of \ufb01nancial position as of 31 December 2024 (NOK 68 million as of 31 December 2023). Investments according to the transition plan (page 57) are not considered to have an impact on the useful life or the value of the existing property, plant, and equipment. Amounts in NOK million Land, buildings and other property Machinery and plants Assets under constructions Fixtures, \ufb01ttings, vehicles, EDP, etc. Total Book value 1 January 2024 1,605 2,434 596 26 4,661 Additions 100 226 363 3 692 Disposals -1 - - - -1 Transferred assets under construction 194 228 -423 1 - Impairment - - - - - Depreciation -117 -298 - -10 -425 Currency translation 24 71 4 - 99 Book value 31 December 2024 1,805 2,661 540 20 5,026 Initial cost 31 December 2024 3,279 8,093 540 234 12,146 Accumulated depreciation and impairment -1,474 -5,432 - -214 -7,120 Book value 31 December 2024 1,805 2,661 540 20 5,026 Book value 1 January 2023 1,567 2,448 322 34 4,371 Additions 81 182 385 3 651 Disposals - - - - - Transferred assets under construction 50 62 -112 - - Impairment - - - - - Depreciation -99 -279 - -11 -389 Currency translation 6 21 1 28 Book value 31 December 2023 1,605 2,434 596 26 4,661 Initial cost 31 December 2023 2,996 7,738 596 232 11,562 Accumulated depreciation and impairment -1,391 -5,304 - -206 -6,901 Book value 31 December 2023 1,605 2,434 596 26 4,661 ", "dimensions": { "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-399": { "value": "NOTE 05 IMPAIRMENT ASSESSMENTS Goodwill and intangible assets with an inde\ufb01nite useful life must be tested annually for impairment to assess whether the values are recoverable. Borregaard carries out this test prior to preparing and presenting its \ufb01nancial statements for the 3 rd quarter. If there are indications of impairments, the assets are tested immediately. A new impairment test is carried out in the 4 th quarter, when necessary, for instance if the underlying assumptions have changed. Borregaard has substantial non-current assets in the form of tangible (property, plant and equipment) and some minor intangible assets. An explanation of the details of and changes in these assets is presented separately in Note 17 and 18. Estimate uncertainty, in some cases considerable, attaches to both property, plant and equipment and intangible assets. Both valuation and estimated useful lifetime are based on future information that is always subject to a great degree of uncertainty. Borregaard routinely monitors assets and if there are indications that the value of an asset is no longer recoverable, an impairment test will be carried out to determine whether the asset can still justify its carrying value. If new estimates conclude that the value is no longer recoverable, the asset is written down to the recoverable amount, i.e. the greater of the net sales value and the value in use (discounted cash \ufb02ow). Cash \ufb02ows relating to the assets are identi\ufb01ed (see table below) and discounted. Future cash \ufb02ow is based on speci\ufb01ed assumptions and the plans adopted by the entity. If the discounted value of future cash \ufb02ows is lower than the capitalised value of the unit\u2019s capital employed, the assets are written down to the recoverable amount. If the discounted value is higher than the capital employed, this means that the value of the intangible asset or goodwill is recoverable. Borregaard\u2019s goodwill is related to the prior acquisition of Borregaard Czech and no impairment charges are identi\ufb01ed: GOODWILL Amounts in NOK million 2024 2023 Borregaard Czech S. R. O 39 37 Total goodwill 39 37 Estimate assumptions and cash-generating units A cash-generating unit (CGU) is the lowest level at which independent cash \ufb02ows can be measured. The biore\ufb01nery in Sarpsborg is considered to be one CGU as the production facilities are integrated and the production process relies on the same raw material (wood). Based on the forecasts, expectations and assumptions that were applied, Borregaard Czech\u2019s capitalised value of goodwill at 31 December 2024 and the fair value exceeds the book value. Calculations of future cash \ufb02ows are based on a number of assumptions regarding both economic trends and the estimated useful life. Borregaard is affected by \ufb02uctuating markets and estimates made in weak markets can differ substantially from estimates made in stronger markets. The discount rate applied is based on the Group\u2019s cost of capital, which has been estimated to be 10% before tax, based on a weighted average of required rates of return for the Group\u2019s equity and debt (WACC). The required rate of return on the Group\u2019s equity is estimated by using the capital asset pricing model (CAPM). The required rate of return on debt is estimated on the basis of a long-term risk-free interest rate to which is added a credit margin derived from Borregaard\u2019s marginal long-term borrowing rate. The discount rate is adjusted for country risk, the level of in\ufb02ation and operational risk, depending on the particular value being calculated. Future cash \ufb02ows are estimated on the basis of the budget for next year and the following two forecast years. As from year four a terminal value is calculated. Cash \ufb02ow estimates are sensitive to changes in sales revenues, raw material and energy prices and the coherent ability to maintain margin assumptions. The sensitivity of the estimates, even when there is a reasonable possibility of a change in assumptions, did not give grounds for impairment charges. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-403": { "value": "NOTE 07 SEGMENTS Borregaard has business areas as operating segments. The operating segments correspond to the way in which the business areas report \ufb01gures to the Group Executive Management (key decision maker). All lignin-based products, including biovanillin, are organised under one management in BioSolutions. BioMaterials consist of products utilising wood \ufb01bres as the main raw material and include the speciality cellulose and cellulose \ufb01brils businesses. Fine Chemicals include \ufb01ne chemical intermediates mainly used for contrast agents and advanced bioethanol mainly for biofuel. Corporate overhead and certain other costs are allocated to the three business segments. Segment performance is primarily measured based on EBITDA 1 . BioSolutions develops, produces and sells biopolymers and biovanillin from lignin. BioMaterials develops, produces and sells speciality cellulose mainly for use as a raw material in the production of cellulose ethers, cellulose acetate and other speciality products. BioMaterials also includes cellulose \ufb01brils for industrial applications, which are in the market introduction phase. Fine Chemicals consists of \ufb01ne chemical intermediates and advanced bioethanol. The arm\u2019s length principle is applied to pricing of transactions between the various segments and companies. Borregaard AS provides services to the companies in the Group and charges them for these services. Figures for the geographical distribution of non- current operating assets, investments in property, plant and equipment, sales revenues and the number of man-years are also presented. See Note 8. The Group applies the same principles for the presentation of segment information as for the rest of its consolidated \ufb01nancial statements, and the operating pro\ufb01t/loss in the segment information is identical to the information presented in the income statement for the Group. There is therefore no need for further reconciliation of these income statement items. Borregaard has a central \ufb01nance function, and the \ufb01nancing of the various segments does not necessarily re\ufb02ect the real \ufb01nancial strength of the individual segments. Financial items are therefore presented only for the Group as a whole. The segment information tables show the key \ufb01gures in which management monitors the business, such as total operating revenue, operating expenses, EBITDA 1 , depreciation, amortisation and impairment of intangible assets, other income and expenses 1 and operating pro\ufb01t for each business area. It does not disclose internal sales between the various segments as it is considered immaterial. The table below shows the revenues generated by BioSolutions, BioMaterials and Fine Chemicals. Operating revenues consist of sales revenues (Note 8) and other revenues such as commissions, revenues from waste received for incineration etc. The segment information also includes cash \ufb02ow from operating activities, replacement investments, expansion investments 1 and working capital for each area. SEGMENTS 2024 Amounts in NOK million Bio- Solutions Bio- Materials Fine Chemicals Eliminations Borregaard Group Income statement Total operating revenues 4,241 2,622 799 -45 7,617 Cost of materials -1,355 -1,145 -232 -2,732 Payroll expenses -763 -518 -107 -1,388 Other operating expenses -1,019 -525 -124 45 -1,623 EBITDA 1 1,104 434 336 - 1,874 Depreciation -296 -216 -44 - -556 Amortisation and impairment intangible assets -5 - - - -5 Other income and expenses 1 -12 -18 - - -30 Operating pro\ufb01t 791 200 292 - 1,283 Net \ufb01nancial items - - - - -204 Pro\ufb01t before tax - - - - 1,079 Cash \ufb02ow Cash \ufb02ow from operating activities 625 107 336 - 1,068 Replacement investments -200 -351 -47 - -598 Expansion investments 1 including investments in associate companies and bio-based start-ups -182 -73 -8 - -263 Capital structure Working capital at year-end 1,203 541 179 - 1,923 Capital employed 1 at year-end - - - - 8,172 Return on capital employed 1 - - - - 17.1% SEGMENTS 2023 Amounts in NOK million Bio- Solutions Bio- Materials Fine Chemicals Eliminations Borregaard Group Income statement Total operating revenues 3,944 2,439 786 -37 7,132 Cost of materials -1,372 -925 -248 -2,545 Payroll expenses -720 -482 -102 -1,304 Other operating expenses -937 -498 -104 37 -1,502 EBITDA 1 915 534 332 - 1,781 Depreciation -243 -200 -42 - -485 Amortisation and impairment intangible assets -5 - - - -5 Other income and expenses 1 - - - - - Operating pro\ufb01t 667 334 290 - 1,291 Net \ufb01nancial items - - - - -167 Pro\ufb01t before tax - - - - 1,124 Cash \ufb02ow Cash \ufb02ow from operating activities 770 427 366 - 1,563 Replacement investments -261 -234 -55 - -550 Expansion investments 1 including investments in associate companies and bio-based start-ups -198 -81 -9 - -288 Capital structure Working capital at year-end 961 374 176 - 1,511 Capital employed 1 at year-end - - - - 7,142 Return on capital employed 1 - - - - 18.3% RECONCILIATION CAPITAL EMPLOYED 1 Amounts in NOK million 2024 2023 Capital employed 1 at year-end 8,172 7,142 Other non-current assets 279 443 Cash and cash equivalents 82 469 Net deferred tax -28 -130 Interest-bearing liabilities -2,323 -2,262 Income tax payable -178 -198 Accumulated write-down and amortisation of goodwill and intangible assets -216 -197 Other (derivatives, accruals, etc.) -698 -373 Equity 5,090 4,894 RECONCILIATION WORKING CAPITAL Amounts in NOK million 2024 2023 Receivables 1,441 1,201 Inventories 1,498 1,447 Other liabilities -1,402 -1,361 Derivatives, etc. not included in above items 386 224 Working capital 1,923 1,511 NOTE 08 REVENUES AND GEOGRAPHICAL BREAKDOWN Revenues are recognised to depict the transfer of promised goods or services to customers in an amount that re\ufb02ects the consideration to which the entity expects to be entitled in exchange for those goods or services. IFRS 15 applies to all revenue contracts and provides a model for the recognition and measurement of sales of some non-\ufb01nancial assets (e.g. disposals of property, plant and equipment). For contracts with customers, sale of Borregaard\u2019s products is generally expected to be the only performance obligation. The Group\u2019s revenue recognition occurs at a point in time when control of the asset is transferred to the customer, generally on delivery of the goods. Borregaard also have some contracts that include volume rebates to some customers. The Group currently recognises rebates based on the most likely amount method which is also in line with IFRS 15. Borregaard operates in several countries and below is a summary showing the geographical breakdown of non-current operating assets, investments, number of man-years based on the geographical location of the operation. Sales revenues are based on the location of the customers. See Note 22 for customers\u2019 payment terms. Non-current operating assets Investments Number of man-years Sales revenues Amounts in NOK million 2024 2023 2024 2023 2024 2023 2024 2023 Norway 4,487 4,193 791 764 814 815 227 279 Rest of Europe 114 108 8 13 86 88 3,254 3,097 Asia 10 10 2 2 56 53 1,719 1,698 America 1,011 961 60 59 184 169 2,242 1,893 Rest of the world - - - - 1 2 60 57 Total 5,622 5,272 861 838 1,141 1,127 7,502 7,024 SALES REVENUES PER PRODUCT GROUP Amounts in NOK million 2024 2023 BioSolutions 4,132 3,849 BioMaterials 2,579 2,395 Fine Chemicals 791 780 Eliminations - - Total revenues 7,502 7,024 Operating revenues consist of sales revenues and other revenues such as commissions, revenues from waste received for incineration etc. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFeeAndCommissionIncomeExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-405": { "value": "NOTE 08 REVENUES AND GEOGRAPHICAL BREAKDOWN Revenues are recognised to depict the transfer of promised goods or services to customers in an amount that re\ufb02ects the consideration to which the entity expects to be entitled in exchange for those goods or services. IFRS 15 applies to all revenue contracts and provides a model for the recognition and measurement of sales of some non-\ufb01nancial assets (e.g. disposals of property, plant and equipment). For contracts with customers, sale of Borregaard\u2019s products is generally expected to be the only performance obligation. The Group\u2019s revenue recognition occurs at a point in time when control of the asset is transferred to the customer, generally on delivery of the goods. Borregaard also have some contracts that include volume rebates to some customers. The Group currently recognises rebates based on the most likely amount method which is also in line with IFRS 15. Borregaard operates in several countries and below is a summary showing the geographical breakdown of non-current operating assets, investments, number of man-years based on the geographical location of the operation. Sales revenues are based on the location of the customers. See Note 22 for customers\u2019 payment terms. Non-current operating assets Investments Number of man-years Sales revenues Amounts in NOK million 2024 2023 2024 2023 2024 2023 2024 2023 Norway 4,487 4,193 791 764 814 815 227 279 Rest of Europe 114 108 8 13 86 88 3,254 3,097 Asia 10 10 2 2 56 53 1,719 1,698 America 1,011 961 60 59 184 169 2,242 1,893 Rest of the world - - - - 1 2 60 57 Total 5,622 5,272 861 838 1,141 1,127 7,502 7,024 SALES REVENUES PER PRODUCT GROUP Amounts in NOK million 2024 2023 BioSolutions 4,132 3,849 BioMaterials 2,579 2,395 Fine Chemicals 791 780 Eliminations - - Total revenues 7,502 7,024 Operating revenues consist of sales revenues and other revenues such as commissions, revenues from waste received for incineration etc. ", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-406": { "value": "NOTE 09 PAYROLL EXPENSES AND REMUNERATION Amounts in NOK million 2024 2023 Wages -1,139 -1,066 Share-based payments (options and discounted shares) -20 -17 Employer\u2019s national insurance contribution -146 -138 Pension costs (Note 10) -79 -79 Remuneration to Board Members -4 -4 Payroll expenses -1,388 -1,304 Average number of man-years 1,135 1,116 REMUNERATION OF THE EXECUTIVE MANAGEMENT CEO Other members of the Group Executive Managment Total Amounts in NOK thousand 2024 2023 2024 2023 2024 2023 Base salary 4,686 4,115 18,465 17,273 23,151 21,388 Bonus 1,534 1,820 5,687 7,039 7,221 8,859 Pension cost 1,294 1,357 2,703 2,474 3,997 3,831 Bene\ufb01ts in kind 282 271 1,904 1,740 2,186 2,011 Total * 7,796 7,563 28,759 28,526 36,555 36,089 Remuneration is actual paid remuneration in the respective years and includes vacation pay on salary earned the previous year. Bonuses however are accrued bonuses in the respective years to be paid out the following year. * There are 9 members of the Group Executive Management including the CEO. Remuneration guidelines and report \u2013 2024 Borregaard\u2019s remuneration guidelines for employees in managerial positions cover base salary, pension, annual bonus/short- term incentives (STI) and long-term incentives (LTI). The remuneration guidelines and a more detailed description of executive management remuneration are found in the separate report \"Remuneration report 2024\" is available at Sustainability documentation - Borregaard. NOTE 10 PENSIONS Borregaard has a policy to use de\ufb01ned contribution pension plans. However, there are some de\ufb01ned bene\ufb01t pension plans, primarily in the USA and Norway. De\ufb01ned contribution plans In the de\ufb01ned contribution pension plans, the company is responsible for making an agreed contribution to the employee\u2019s pension assets. The future pension will be determined by the amount of the contributions and the return on the pension savings. Once the contributions have been paid, there are no further payment obligations attached to the de\ufb01ned contribution pension. As a result, there is no liability recorded in the statement of \ufb01nancial position. The pension costs related to de\ufb01ned contribution plans will be equal to the contributions to employees\u2019 pension savings in each reporting period. Contribution plans also comprise pension plans that are common to several companies and where the pension premium is determined independently of the demographic pro\ufb01le in the individual companies (multi-employer plans). The company is obligated to follow the Act on Mandatory company pensions in Norway and the company meets the requirements. De\ufb01ned bene\ufb01t plans De\ufb01ned bene\ufb01t plans are measured at the present value of accrued future pension bene\ufb01ts at the end of the reporting period. Pension plan assets are measured at their fair value. Changes in accounting estimates for de\ufb01ned bene\ufb01t plans are recognised in other comprehensive income and the net interest costs for the period is calculated by using the discount rate for the liability at the beginning of the period on the net liability. As such, the net interest cost consists of interest on the liability and the return on the plan assets, whereas both have been calculated by using the discount rate. Changes in net pension liabilities as a result of payments of premiums and pension payments have been taken into consideration. The difference between the actual return and the accounted return is recognised continuously through other comprehensive income. The current service cost and net interest income/costs are recognised immediately. The \ufb01nancial part of the pension cost is recognised as part of \ufb01nancial items, the other part is recognised as payroll expenses in the income statement. Changes in value, both in assets and liabilities, are recognised through other comprehensive income. Gains or losses on the curtailment or settlement of a de\ufb01ned bene\ufb01t plan are recognised through pro\ufb01t and loss when the curtailment or settlement occurs. A curtailment occurs when the Group decides to make a material reduction in the number of employees covered by a plan or amends the terms of a de\ufb01ned bene\ufb01t plan such that a considerable part of the current employees\u2019 future earnings will no longer qualify for bene\ufb01ts or will qualify only for reduced bene\ufb01ts. The introduction of a new de\ufb01ned bene\ufb01t plan or an improvement to the current de\ufb01ned bene\ufb01t plan will lead to changes in the pension liabilities. These will be charged to expenses in a straight line during the period until the effect of the change has been accrued. The introduction of new plans or changes to existing plans which take place with retroactive effect so that the employees immediately accrue a paid-up policy (or a change in a paid-up policy) are recognised in the statement of comprehensive income immediately. Gains or losses linked to curtailments or terminations of pension plans are recognised through pro\ufb01t and loss when they arise. Borregaard has pension plans that are classi\ufb01ed as funded bene\ufb01t plans and unfunded bene\ufb01t plans. Expected contributions for the next year, 2025, to the de\ufb01ned bene\ufb01t plan obligation is NOK 1 million. The largest part of the bene\ufb01t plans are in the USA and Norway. USA The pension plans in the USA contain three different plans; two de\ufb01ned bene\ufb01t plans for salaried and hourly employees and one supplemental post-retirement plan. In 2016, the de\ufb01ned bene\ufb01t plans were closed for new employees and replaced with a contribution plan. Norway The net pension liabilities consist of unfunded pension plans and disability pension scheme for key personnel and liabilities related to contribution-based plans for employees who earn more than twelve times the Norwegian National Insurance Scheme\u2019s basic amount (12G). The pension plan for employees in Norway who earn more than 12G is a contribution-based plan. The sum of the accrued contributions and the return on the plan assets are presented as a pension liability in the company\u2019s statement of \ufb01nancial position. The pension plan is therefore presented as a de\ufb01ned bene\ufb01t plan. The early retirement scheme, AFP, is recognised as a multiemployer de\ufb01ned contribution plan. This may change if there are suf\ufb01cient reliable, consistent data to be able to recognise it as a de\ufb01ned bene\ufb01t plan. In 2024, the premium for the early retirement scheme is 2.7% of total payments of wages between 1 and 7.1 times the average basic amount (G). All employees in Norway younger than 62 years are included, 902 employees in 2024, and the cost in 2024 was NOK 15 million. Pension plan assets The pension plans with pension plan assets are located in the USA. Pension plan assets are mainly invested in bonds and shares. The estimated return will vary depending on the composition of the various classes of assets. The breakdown of pension plan assets is presented below. Assumptions de\ufb01ned bene\ufb01t plans Borregaard uses the covered bonds interest rate on the Norwegian bene\ufb01t plans. The discount rate is \ufb01xed at the rate on high quality corporate bonds with the same lifetime as the pension liabilities (AA-rated corporate bonds). As a rule, parameters such as wage growth, growth in G (future social security wage base) and in\ufb02ation are set in accordance with recommendations on the various countries. The mortality estimate is based on up-to-date mortality tables for the various countries. Norway: K2013 BE, USA: Pri- 2012 collar base tables from 2012 projected forward using MP-2021. ASSUMPTIONS DEFINED BENEFIT PLANS NORWAY USA 2024 2023 2024 2023 Discount rate 4.5% 3.9% 5.7% 5.1% Rate of return on assets NA NA 5.7% 5.1% Future salary adjustment 4.00% 3.25% 4.0% 4.0% G-multiplier*/Future social security wage base 3.75% 3.25% 3.5% 3.5% Turnover 2.0% 1.5% 2.5% 2.5% Expected average remaining vesting period 8.8 10.7 - - * 1G is NOK 124.028 as of 31 December 2024 BREAKDOWN OF NET PENSION COSTS Amounts in NOK million 2024 2023 Contribution plans -74 -70 Current service cost -5 -9 Net pension costs (incl. national insurance contributions) -79 -79 BREAKDOWN OF PENSION OBLIGATIONS AND PENSION PLAN ASSETS AS OF 31 DECEMBER, IN PAST FIVE YEARS Amounts in NOK million 2024 2023 2022 2021 2020 Present value of funded pension obligations -349 -319 -333 -457 -487 Pension plan assets (fair value) 533 450 409 523 478 Net pensjon plan assets/-net funded pension liabilities** 184 131 76 66 -9 Present value of unfunded pension obligations** -104 -92 -90 -95 -81 Capitalised net pension assets/-obligations 80 39 -14 -29 -90 ** Pension schemes are presented gross in the balance sheet. CHANGES IN THE PRESENT VALUE OF PENSION OBLIGATIONS DURING THE YEAR Amounts in NOK million 2024 2023 Pension obligations 1 January -411 -423 Current service cost (incl. national insurance contributions) -5 -9 Interest on pension obligations -27 -28 Actuarial gains and losses 10 29 Bene\ufb01ts paid during the year 17 31 Currency translations -36 -11 Pension obligations 31 December -452 -411 CHANGES IN PENSION PLAN ASSETS DURING THE YEAR Amounts in NOK million 2024 2023 Pension plan assets (fair value) 1 January 450 409 Expected return on pension plan assets 24 23 Contributions and bene\ufb01ts paid during the year -21 -28 Actuarial gains and losses 27 34 Currency translations 53 12 Pension plan assets (fair value) 31 December 533 450 BREAKDOWN OF PENSION PLAN ASSETS (FAIR VALUE) As of 31 December 2024 2023 Cash and cash equivalents and money market investments 2% 1% Bonds 33% 32% Shares 65% 67% Total pension plan assets 100% 100% Sensitivity The above pension cost and pension liabilities related to de\ufb01ned bene\ufb01t schemes, are based on the assumptions outlined above. The actuarial calculations are sensitive to any changes in the assumptions. A 1% increase in wage adjustment would imply a 3% increase in pension liability and a 5% increase in pension cost (de\ufb01ned bene\ufb01t schemes). A 1% increase in discount rate would imply an 11% decrease in pension liability and 2% decrease in pension cost while a 1% reduction in discount rate would imply a 13% increase in pension liability and a 2% increase in pension cost. ", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-476": { "value": "REMUNERATION OF THE EXECUTIVE MANAGEMENT CEO Other members of the Group Executive Managment Total Amounts in NOK thousand 2024 2023 2024 2023 2024 2023 Base salary 4,686 4,115 18,465 17,273 23,151 21,388 Bonus 1,534 1,820 5,687 7,039 7,221 8,859 Pension cost 1,294 1,357 2,703 2,474 3,997 3,831 Bene\ufb01ts in kind 282 271 1,904 1,740 2,186 2,011 Total * 7,796 7,563 28,759 28,526 36,555 36,089 Remuneration is actual paid remuneration in the respective years and includes vacation pay on salary earned the previous year. Bonuses however are accrued bonuses in the respective years to be paid out the following year. * There are 9 members of the Group Executive Management including the CEO. Remuneration guidelines and report \u2013 2024 Borregaard\u2019s remuneration guidelines for employees in managerial positions cover base salary, pension, annual bonus/short- term incentives (STI) and long-term incentives (LTI). The remuneration guidelines and a more detailed description of executive management remuneration are found in the separate report \"Remuneration report 2024\" is available at Sustainability documentation - Borregaard. Borregaard has used the Black-Scholes model when estimating the value of the options. The volatility is calculated on the basis of the average volatility the past years for Borregaard and Borregaard peers. See Note 37 for share options issued in 2025. Assumptions 2024 2023 Expected dividend-yield (%) - - Expected volatility (%) 31.7 28.2 Historical volatility (%) 31.7 28.0 Risk-free return (%) 3.4 3.5 Expected life of option (years) 4.0 5.0 Weighted average share price (NOK) 180.97 177.04 SHARE OPTIONS AND SHARES HELD BY GROUP EXECUTIVE MANAGEMENT AND RELATED PARTIES AS OF 31 DECEMBER Issued 2020 Strike NOK 91.35* Issued 2021 Strike NOK 172.45* Issued 2022 Strike NOK 216.75* Issued 2023 Strike NOK 187.00* Issued 2024 Strike NOK 195.35* Shares No. of share options No. of share options No. of share options No. of share options No. of share options No. of shares** 2024 2023 2024 2023 2024 2023 2024 2023 2024 2024 2023 CEO - 60,000 40,000 40,000 30,000 30,000 40,000 40,000 55,000 165,351 164,810 Other members of the Group Executive Management 20,000 144,900 77,000 77,000 60,000 60,000 77,000 77,000 108,000 313,498 310,252 Total 20,000 204,900 117,000 117,000 90,000 90,000 117,000 117,000 163,000 478,849 475,062 * The strike price has been adjusted for dividends. ** Total share ownership including related parties. Discounted shares for employees The Group has a programme that gives employees, including the members of the Group Executive Management, the opportunity to buy a limited number of shares at a discount in relation to the market price. In 2024, Borregaard sold a total of 165,248 shares to employees. The share price was NOK 129.18 per share including a 25% discount. Costs in 2024, including administration costs, related to the programme in 2024 amounted to approximately NOK 8 million. Special agreements with the President and CEO and other members of the Group Executive Management If the President and CEO, Per A. S\u00f8rlie, by mutual agreement and in the best interest of the company, terminates the employment contract, he will receive pay for up to 6 months after the period of notice. 75% of any income from another permanent post during the 6-month period will be deducted. The President and CEO is included in the company\u2019s ordinary pension schemes up to the retirement age of 68. In addition, The President and CEO had a pension agreement which consisted of 60% of annual pay in addition to full pension contribution (20% of 100% base salary) in the 2-year period from 65-67 years with no deduction for income from another permanent position. This agreement ended in September 2024. The other members of the Group Executive Management have a six-months period of notice and no severance pay agreement. There are no loans to the members of the Group Executive Management. There are no other special agreements with the Group Executive Management team. Remuneration of the Board of Directors At the General Meeting in April 2024, it was decided that The Board of Directors would be remunerated at annual rates for the period up to the next General Meeting in 2025: Board of Directors Board chair NOK 695,000 per year Board member, shareholder-elected NOK 387,000 per year Board member, employee-elected NOK 314,000 per year Observer, employee-elected NOK 105,000 per year Deputy for observer NOK 8,100 per meeting Audit and Sustainability Committee Committee chair NOK 112,000 per year Member NOK 73,000 per year Compensation Committee Committee chair NOK 66,000 per year Member NOK 50,900 per year According to a resolution at the General Meeting in 2018, shareholder-elected Board members are required to use 20% of their annual remuneration to acquire shares in the Company, until the share value reaches an amount equivalent to one year\u2019s remuneration. For actual allowance to board members, see the \"Remuneration report 2024\" on Borregaard's website. Remuneration of the Nomination Committee The chair of the Nomination Committee receives NOK 73,800 per year and an additional NOK 11,800 per meeting exceeding 4 meetings. Other members receive NOK 51,400 per year and an additional NOK 9,600 per meeting exceeding 4 meetings. For shares held by the Board of Directors, see Note 4 in the Financial Statement of Borregaard ASA. NOTE 33 RELATED PARTIES Activity within the Group is reported in the segment information disclosed in Note 7. Borregaard has one joint venture, Umkomaas Lignin (proprietary) Limited trading as LignoTech South Africa (50%). This company is jointly owned with Sappi Southern Africa Ltd. The equity method is used for consolidation according to IFRS 11 for joint arrangements (see also Note 6). In 2020, the operation at LignoTech South Africa was mothballed and later the decision to permanently close the operation was taken. There have been no internal transactions in 2024 and liquidation will be \ufb01nalised in 2025. Internal trading within the Group is carried out in accordance with special agreements on an arm\u2019s length basis, and joint expenses in Borregaard are distributed among the Group companies in accordance with distribution formulas, depending on the various types of expense. For further information on intercompany transactions, see Note 7 \u201cSegments\u201d. The members of the Group Executive Management of Borregaard hold a total of 507,000 stock options in the Company. Further information regarding the Group Executive Management is disclosed in Note 9. Other transactions with related parties are part of ordinary business operations. Transactions with associate companies are considered immaterial. ", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-407": { "value": "REMUNERATION OF THE EXECUTIVE MANAGEMENT CEO Other members of the Group Executive Managment Total Amounts in NOK thousand 2024 2023 2024 2023 2024 2023 Base salary 4,686 4,115 18,465 17,273 23,151 21,388 Bonus 1,534 1,820 5,687 7,039 7,221 8,859 Pension cost 1,294 1,357 2,703 2,474 3,997 3,831 Bene\ufb01ts in kind 282 271 1,904 1,740 2,186 2,011 Total * 7,796 7,563 28,759 28,526 36,555 36,089 Remuneration is actual paid remuneration in the respective years and includes vacation pay on salary earned the previous year. Bonuses however are accrued bonuses in the respective years to be paid out the following year. * There are 9 members of the Group Executive Management including the CEO. Remuneration guidelines and report \u2013 2024 Borregaard\u2019s remuneration guidelines for employees in managerial positions cover base salary, pension, annual bonus/short- term incentives (STI) and long-term incentives (LTI). The remuneration guidelines and a more detailed description of executive management remuneration are found in the separate report \"Remuneration report 2024\" is available at Sustainability documentation - Borregaard. Borregaard has used the Black-Scholes model when estimating the value of the options. The volatility is calculated on the basis of the average volatility the past years for Borregaard and Borregaard peers. See Note 37 for share options issued in 2025. Assumptions 2024 2023 Expected dividend-yield (%) - - Expected volatility (%) 31.7 28.2 Historical volatility (%) 31.7 28.0 Risk-free return (%) 3.4 3.5 Expected life of option (years) 4.0 5.0 Weighted average share price (NOK) 180.97 177.04 SHARE OPTIONS AND SHARES HELD BY GROUP EXECUTIVE MANAGEMENT AND RELATED PARTIES AS OF 31 DECEMBER Issued 2020 Strike NOK 91.35* Issued 2021 Strike NOK 172.45* Issued 2022 Strike NOK 216.75* Issued 2023 Strike NOK 187.00* Issued 2024 Strike NOK 195.35* Shares No. of share options No. of share options No. of share options No. of share options No. of share options No. of shares** 2024 2023 2024 2023 2024 2023 2024 2023 2024 2024 2023 CEO - 60,000 40,000 40,000 30,000 30,000 40,000 40,000 55,000 165,351 164,810 Other members of the Group Executive Management 20,000 144,900 77,000 77,000 60,000 60,000 77,000 77,000 108,000 313,498 310,252 Total 20,000 204,900 117,000 117,000 90,000 90,000 117,000 117,000 163,000 478,849 475,062 * The strike price has been adjusted for dividends. ** Total share ownership including related parties. Discounted shares for employees The Group has a programme that gives employees, including the members of the Group Executive Management, the opportunity to buy a limited number of shares at a discount in relation to the market price. In 2024, Borregaard sold a total of 165,248 shares to employees. The share price was NOK 129.18 per share including a 25% discount. Costs in 2024, including administration costs, related to the programme in 2024 amounted to approximately NOK 8 million. Special agreements with the President and CEO and other members of the Group Executive Management If the President and CEO, Per A. S\u00f8rlie, by mutual agreement and in the best interest of the company, terminates the employment contract, he will receive pay for up to 6 months after the period of notice. 75% of any income from another permanent post during the 6-month period will be deducted. The President and CEO is included in the company\u2019s ordinary pension schemes up to the retirement age of 68. In addition, The President and CEO had a pension agreement which consisted of 60% of annual pay in addition to full pension contribution (20% of 100% base salary) in the 2-year period from 65-67 years with no deduction for income from another permanent position. This agreement ended in September 2024. The other members of the Group Executive Management have a six-months period of notice and no severance pay agreement. There are no loans to the members of the Group Executive Management. There are no other special agreements with the Group Executive Management team. Remuneration of the Board of Directors At the General Meeting in April 2024, it was decided that The Board of Directors would be remunerated at annual rates for the period up to the next General Meeting in 2025: Board of Directors Board chair NOK 695,000 per year Board member, shareholder-elected NOK 387,000 per year Board member, employee-elected NOK 314,000 per year Observer, employee-elected NOK 105,000 per year Deputy for observer NOK 8,100 per meeting Audit and Sustainability Committee Committee chair NOK 112,000 per year Member NOK 73,000 per year Compensation Committee Committee chair NOK 66,000 per year Member NOK 50,900 per year According to a resolution at the General Meeting in 2018, shareholder-elected Board members are required to use 20% of their annual remuneration to acquire shares in the Company, until the share value reaches an amount equivalent to one year\u2019s remuneration. For actual allowance to board members, see the \"Remuneration report 2024\" on Borregaard's website. Remuneration of the Nomination Committee The chair of the Nomination Committee receives NOK 73,800 per year and an additional NOK 11,800 per meeting exceeding 4 meetings. Other members receive NOK 51,400 per year and an additional NOK 9,600 per meeting exceeding 4 meetings. For shares held by the Board of Directors, see Note 4 in the Financial Statement of Borregaard ASA. ", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-408": { "value": "ISSUED AND OUTSTANDING SHARE OPTIONS AS OF 31 DECEMBER 2024: Year issued Number of share options issued Exercised/ forfeited share options Number of outstanding share options Strike price* Expire date Number of employees** 2020 400,000 345,000 55,000 87.60 13 Feb 2025 28 2021 249,000 6,000 243,000 168.70 16 Feb 2026 31 2022 200,000 - 200,000 216.75 17 Feb 2027 31 2023 250,000 - 250,000 187.00 1 Mar 2028 35 2024 371,000 - 371,000 195.35 27 Feb 2029 35 1,470,000 351,000 1,119,000 * The strike price has been adjusted for dividends. Strike prices were set at 10% above the share price at the issue date. ** Including Group Executive Management. The common practice is equity settlement for the share-based option programmes. Share-based related costs for 2024 for the Group Executive Management was NOK 8 million in total for all programmes. 56,550 share options issued in 2019, 281,900 share options issued in 2020 and 6,000 share options issued in 2021 have been exercised in 2024. Changes in outstanding share options for Borregaard\u2019s employees are shown in the table below: 2024 2023 Number of share options No. WAEP* No. WAEP* Outstanding at the beginning of the year 1,092,450 155.19 1,196,500 125.93 Exercised during the year -344,450 - -354,050 - Granted during the year 371,000 195.00 250,000 190.75 Forfeited during the year - - - - Outstanding at year-end ** 1,119,000 186.23 1,092,450 155.19 Exercisable options at year-end** 298,000 - 393,450 - * Weighted average exercise price adjusted for dividend. Amounts in NOK. ** Expiry dates are 6 February 2024 for 46,550 options, 13 February 2025 for 346,900 options, 16 February 2026 for 249,000 options, 17 February 2027 for 200,000 options and 1 March 2028 for 250,000 options. Borregaard has used the Black-Scholes model when estimating the value of the options. The volatility is calculated on the basis of the average volatility the past years for Borregaard and Borregaard peers. See Note 37 for share options issued in 2025. Assumptions 2024 2023 Expected dividend-yield (%) - - Expected volatility (%) 31.7 28.2 Historical volatility (%) 31.7 28.0 Risk-free return (%) 3.4 3.5 Expected life of option (years) 4.0 5.0 Weighted average share price (NOK) 180.97 177.04 SHARE OPTIONS AND SHARES HELD BY GROUP EXECUTIVE MANAGEMENT AND RELATED PARTIES AS OF 31 DECEMBER Issued 2020 Strike NOK 91.35* Issued 2021 Strike NOK 172.45* Issued 2022 Strike NOK 216.75* Issued 2023 Strike NOK 187.00* Issued 2024 Strike NOK 195.35* Shares No. of share options No. of share options No. of share options No. of share options No. of share options No. of shares** 2024 2023 2024 2023 2024 2023 2024 2023 2024 2024 2023 CEO - 60,000 40,000 40,000 30,000 30,000 40,000 40,000 55,000 165,351 164,810 Other members of the Group Executive Management 20,000 144,900 77,000 77,000 60,000 60,000 77,000 77,000 108,000 313,498 310,252 Total 20,000 204,900 117,000 117,000 90,000 90,000 117,000 117,000 163,000 478,849 475,062 * The strike price has been adjusted for dividends. ** Total share ownership including related parties. Discounted shares for employees The Group has a programme that gives employees, including the members of the Group Executive Management, the opportunity to buy a limited number of shares at a discount in relation to the market price. In 2024, Borregaard sold a total of 165,248 shares to employees. The share price was NOK 129.18 per share including a 25% discount. Costs in 2024, including administration costs, related to the programme in 2024 amounted to approximately NOK 8 million. Special agreements with the President and CEO and other members of the Group Executive Management If the President and CEO, Per A. S\u00f8rlie, by mutual agreement and in the best interest of the company, terminates the employment contract, he will receive pay for up to 6 months after the period of notice. 75% of any income from another permanent post during the 6-month period will be deducted. The President and CEO is included in the company\u2019s ordinary pension schemes up to the retirement age of 68. In addition, The President and CEO had a pension agreement which consisted of 60% of annual pay in addition to full pension contribution (20% of 100% base salary) in the 2-year period from 65-67 years with no deduction for income from another permanent position. This agreement ended in September 2024. The other members of the Group Executive Management have a six-months period of notice and no severance pay agreement. There are no loans to the members of the Group Executive Management. There are no other special agreements with the Group Executive Management team. Remuneration of the Board of Directors At the General Meeting in April 2024, it was decided that The Board of Directors would be remunerated at annual rates for the period up to the next General Meeting in 2025: Board of Directors Board chair NOK 695,000 per year Board member, shareholder-elected NOK 387,000 per year Board member, employee-elected NOK 314,000 per year Observer, employee-elected NOK 105,000 per year Deputy for observer NOK 8,100 per meeting Audit and Sustainability Committee Committee chair NOK 112,000 per year Member NOK 73,000 per year Compensation Committee Committee chair NOK 66,000 per year Member NOK 50,900 per year According to a resolution at the General Meeting in 2018, shareholder-elected Board members are required to use 20% of their annual remuneration to acquire shares in the Company, until the share value reaches an amount equivalent to one year\u2019s remuneration. For actual allowance to board members, see the \"Remuneration report 2024\" on Borregaard's website. Remuneration of the Nomination Committee The chair of the Nomination Committee receives NOK 73,800 per year and an additional NOK 11,800 per meeting exceeding 4 meetings. Other members receive NOK 51,400 per year and an additional NOK 9,600 per meeting exceeding 4 meetings. For shares held by the Board of Directors, see Note 4 in the Financial Statement of Borregaard ASA. ", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-409": { "value": "FEES TO GROUP EXTERNAL AUDITOR Amounts in NOK million 2024 2023 Statutory audit 6.7 6.2 Sustainability attestation 1.2 0.4 Other attestation services 0.5 0.6 Tax consultancy services - - Other non-audit services 0.6 0.9 Total fees to EY 9.0 8.1 ", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-410": { "value": "Borregaard has a policy to use de\ufb01ned contribution pension plans. However, there are some de\ufb01ned bene\ufb01t pension plans, primarily in the USA and Norway. De\ufb01ned contribution plans In the de\ufb01ned contribution pension plans, the company is responsible for making an agreed contribution to the employee\u2019s pension assets. The future pension will be determined by the amount of the contributions and the return on the pension savings. Once the contributions have been paid, there are no further payment obligations attached to the de\ufb01ned contribution pension. As a result, there is no liability recorded in the statement of \ufb01nancial position. The pension costs related to de\ufb01ned contribution plans will be equal to the contributions to employees\u2019 pension savings in each reporting period. Contribution plans also comprise pension plans that are common to several companies and where the pension premium is determined independently of the demographic pro\ufb01le in the individual companies (multi-employer plans). The company is obligated to follow the Act on Mandatory company pensions in Norway and the company meets the requirements. De\ufb01ned bene\ufb01t plans De\ufb01ned bene\ufb01t plans are measured at the present value of accrued future pension bene\ufb01ts at the end of the reporting period. Pension plan assets are measured at their fair value. Changes in accounting estimates for de\ufb01ned bene\ufb01t plans are recognised in other comprehensive income and the net interest costs for the period is calculated by using the discount rate for the liability at the beginning of the period on the net liability. As such, the net interest cost consists of interest on the liability and the return on the plan assets, whereas both have been calculated by using the discount rate. Changes in net pension liabilities as a result of payments of premiums and pension payments have been taken into consideration. The difference between the actual return and the accounted return is recognised continuously through other comprehensive income. The current service cost and net interest income/costs are recognised immediately. The \ufb01nancial part of the pension cost is recognised as part of \ufb01nancial items, the other part is recognised as payroll expenses in the income statement. Changes in value, both in assets and liabilities, are recognised through other comprehensive income. Gains or losses on the curtailment or settlement of a de\ufb01ned bene\ufb01t plan are recognised through pro\ufb01t and loss when the curtailment or settlement occurs. A curtailment occurs when the Group decides to make a material reduction in the number of employees covered by a plan or amends the terms of a de\ufb01ned bene\ufb01t plan such that a considerable part of the current employees\u2019 future earnings will no longer qualify for bene\ufb01ts or will qualify only for reduced bene\ufb01ts. The introduction of a new de\ufb01ned bene\ufb01t plan or an improvement to the current de\ufb01ned bene\ufb01t plan will lead to changes in the pension liabilities. These will be charged to expenses in a straight line during the period until the effect of the change has been accrued. The introduction of new plans or changes to existing plans which take place with retroactive effect so that the employees immediately accrue a paid-up policy (or a change in a paid-up policy) are recognised in the statement of comprehensive income immediately. Gains or losses linked to curtailments or terminations of pension plans are recognised through pro\ufb01t and loss when they arise. Borregaard has pension plans that are classi\ufb01ed as funded bene\ufb01t plans and unfunded bene\ufb01t plans. Expected contributions for the next year, 2025, to the de\ufb01ned bene\ufb01t plan obligation is NOK 1 million. The largest part of the bene\ufb01t plans are in the USA and Norway. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "mtpnn28": { "value": "NOTE 11 OTHER OPERATING EXPENSES The Borregaard Group has chosen to present its income statement based on the nature of the item of income or expense. Operating expenses have been broken down into the following main items: Cost of materials, payroll expenses, depreciation, amortisation and other operating expenses. Thus, other operating expenses comprises all operating expenses that are not related to cost of materials, employee payrolls and capital costs in the form of depreciation. The most important items have been grouped into the following main items. Amounts in NOK million 2024 2023 External distribution costs -640 -628 Maintenance, repair and equipment costs -390 -356 Consultants, legal advisors, temporary staff, etc. -183 -176 Rental/leasing (Note 12) -53 -55 Other -357 -287 Total other operating expenses -1,623 -1,502 NOTE 13 OTHER INCOME AND EXPENSES 1 Other income and expenses 1 largely consist of material positive and negative non-recurring items, restructuring costs and any substantial write-downs of both tangible and intangible assets. The main purpose of this line is to present material non-recurring items and items substantially relating to other periods separately to ensure that the changes in and comparability of the lines presented in EBITDA 1 , depreciation and amortisation are more relevant to the company. Amounts in NOK million 2024 2023 Accrual related to remediation of contaminated soil at the site in Norway. See Note 35. -30 - Total other income and expenses 1 -30 - ", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-411": { "value": "NOTE 11 OTHER OPERATING EXPENSES The Borregaard Group has chosen to present its income statement based on the nature of the item of income or expense. Operating expenses have been broken down into the following main items: Cost of materials, payroll expenses, depreciation, amortisation and other operating expenses. Thus, other operating expenses comprises all operating expenses that are not related to cost of materials, employee payrolls and capital costs in the form of depreciation. The most important items have been grouped into the following main items. Amounts in NOK million 2024 2023 External distribution costs -640 -628 Maintenance, repair and equipment costs -390 -356 Consultants, legal advisors, temporary staff, etc. -183 -176 Rental/leasing (Note 12) -53 -55 Other -357 -287 Total other operating expenses -1,623 -1,502 NOTE 13 OTHER INCOME AND EXPENSES 1 Other income and expenses 1 largely consist of material positive and negative non-recurring items, restructuring costs and any substantial write-downs of both tangible and intangible assets. The main purpose of this line is to present material non-recurring items and items substantially relating to other periods separately to ensure that the changes in and comparability of the lines presented in EBITDA 1 , depreciation and amortisation are more relevant to the company. Amounts in NOK million 2024 2023 Accrual related to remediation of contaminated soil at the site in Norway. See Note 35. -30 - Total other income and expenses 1 -30 - ", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-412": { "value": "NOTE 12 LEASES IFRS 16 sets out the principles for the recognition, measurement, presentation and disclosure of leases and requires lessees to account for all leases under a single on-balance sheet model. The Group recognises right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognised, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets. If ownership of the leased asset transfers to the Group at the end of the lease term or the cost re\ufb02ects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. At the commencement date of the lease, the Group recognises lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include \ufb01xed payments (including in substance \ufb01xed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees, if any. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group and payments of penalties for terminating the lease, if the lease term re\ufb02ects the Group exercising the option to terminate. Variable lease payments that do not depend on an index or a rate are recognised as expenses (unless they are incurred to produce inventories) in the period in which the event or condition that triggers the payment occurs. In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to re\ufb02ect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modi\ufb01cation, a change in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an index or rate used to determine such lease payments) or a change in the assessment of an option to purchase the underlying asset. Discount rates used: Machinery, vehicles and equipment: Incremental borrowing rate. Buildings: Implicit interest rate if available. The incremental borrowing rate is based on interbank interest rate (NIBOR, EURIBOR or SOFR) plus margin plus country risk mark-up. The Group\u2019s lease of buildings have lease terms that vary from 1 to 25 years, and several agreements involve a right of renewal which may be exercised during the last period of the lease terms. The Group assesses at the commencement whether it is reasonably certain to exercise the renewal right. Group\u2019s lease liabilities are included in interest-bearing liabilities. See Note 27. The standard includes two recognition exemptions for lessees \u2013 leases of \u2019low-value\u2019 assets (e.g. personal computers) and short-term leases (i.e. leases with a lease term of 12 months or less) that Borregaard has adopted. Lease payments on short-term leases and leases of low-value assets are recognised as expense on a straight-line basis over the lease term. Right-of-use assets The Group leases several assets such as of\ufb01ces and other facilities, machinery and equipment and vehicles. The Group\u2019s right-of-use assets are categorised and presented in the following table: RIGHT-OF-USE ASSETS Amounts in NOK million Land, buildings and other property Machinery and plants Fixtures, \ufb01ttings, vehicles etc. Other assets Total Balance at 1 January 2023 281 - 55 9 345 Depreciations -43 - -26 -15 -84 Additions 147 - 26 77 250 Adjustments to existing contracts and terminations 18 1 - 2 21 Effects of movements in exchange rates -2 - 1 -4 -5 Balance at 31 December 2023 401 1 56 69 527 Depreciations -72 -1 -24 -22 -119 Additions 48 - 24 - 72 Adjustments to existing contracts and terminations 13 - - - 13 Effects of movements in exchange rates 7 - 2 6 15 Balance at 31 December 2024 397 - 58 53 508 LEASE LIABILITIES Amounts in NOK million 2024 2023 Balance at 1 January 563 371 Additions 72 250 Adjustments to existing contracts and terminations 13 21 Accretion of interests 36 29 Payments -146 -102 Currency translations 16 -6 Balance at 31 December 554 563 Amounts in NOK million 2024 2023 Maturity analysis - contractual undiscounted cash \ufb02ows Less than one year 143 127 One to two years 115 116 Two to three years 80 94 Three to four years 53 62 Four to \ufb01ve years 42 39 More than \ufb01ve years 300 319 Total undiscounted lease liabilities at 31 December 733 757 Lease liabilities included in the statement of \ufb01nancial position at 31 December 554 563 Current 112 95 Non-current 442 468 AMOUNTS RECOGNISED IN PROFIT OR LOSS Amounts in NOK million 2024 2023 Interest on lease liabilities -36 -29 Depreciation of right-of-use assets -119 -84 Gains (+) and losses (-) due to terminations, purchases, impairments, and other changes - - Variable lease payments not included in the measurement of lease liabilities -8 -6 Expenses relating to short-term leases -44 -48 Expenses relating to leases of low-value assets, excluding short-term leases of low-value assets -1 -1 Total amount recognised in pro\ufb01t or loss -208 -168 AMOUNTS RECOGNISED IN THE STATEMENT OF CASH FLOW Figures in NOK 2024 2023 Total cash out\ufb02ow for leases 199 157 The Group is committed to ful\ufb01l future cash out\ufb02ows relating to leases amounting to NOK 39 million which is not recorded in the \ufb01nancial position as of 31 December 2024. Extension options Borregaard has lease contracts that include extension options. The Group determines the lease term as the non-cancellable term of the lease, together with any periods covered by an option to extend the lease if it is reasonably certain to be exercised, or any periods covered by an option to terminate the lease, if it is reasonably certain not to be exercised. Set out below are the discounted liability effects related to extension options: Amounts in NOK million 2024 Options to extend not yet recognised, discounted liability effect 113 Recognised options to extend, discounted liability effect 53 ", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-413": { "value": "NOTE 12 LEASES IFRS 16 sets out the principles for the recognition, measurement, presentation and disclosure of leases and requires lessees to account for all leases under a single on-balance sheet model. The Group recognises right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognised, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets. If ownership of the leased asset transfers to the Group at the end of the lease term or the cost re\ufb02ects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. At the commencement date of the lease, the Group recognises lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include \ufb01xed payments (including in substance \ufb01xed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees, if any. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group and payments of penalties for terminating the lease, if the lease term re\ufb02ects the Group exercising the option to terminate. Variable lease payments that do not depend on an index or a rate are recognised as expenses (unless they are incurred to produce inventories) in the period in which the event or condition that triggers the payment occurs. In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to re\ufb02ect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modi\ufb01cation, a change in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an index or rate used to determine such lease payments) or a change in the assessment of an option to purchase the underlying asset. Discount rates used: Machinery, vehicles and equipment: Incremental borrowing rate. Buildings: Implicit interest rate if available. The incremental borrowing rate is based on interbank interest rate (NIBOR, EURIBOR or SOFR) plus margin plus country risk mark-up. The Group\u2019s lease of buildings have lease terms that vary from 1 to 25 years, and several agreements involve a right of renewal which may be exercised during the last period of the lease terms. The Group assesses at the commencement whether it is reasonably certain to exercise the renewal right. Group\u2019s lease liabilities are included in interest-bearing liabilities. See Note 27. The standard includes two recognition exemptions for lessees \u2013 leases of \u2019low-value\u2019 assets (e.g. personal computers) and short-term leases (i.e. leases with a lease term of 12 months or less) that Borregaard has adopted. Lease payments on short-term leases and leases of low-value assets are recognised as expense on a straight-line basis over the lease term. Right-of-use assets The Group leases several assets such as of\ufb01ces and other facilities, machinery and equipment and vehicles. The Group\u2019s right-of-use assets are categorised and presented in the following table: RIGHT-OF-USE ASSETS Amounts in NOK million Land, buildings and other property Machinery and plants Fixtures, \ufb01ttings, vehicles etc. Other assets Total Balance at 1 January 2023 281 - 55 9 345 Depreciations -43 - -26 -15 -84 Additions 147 - 26 77 250 Adjustments to existing contracts and terminations 18 1 - 2 21 Effects of movements in exchange rates -2 - 1 -4 -5 Balance at 31 December 2023 401 1 56 69 527 Depreciations -72 -1 -24 -22 -119 Additions 48 - 24 - 72 Adjustments to existing contracts and terminations 13 - - - 13 Effects of movements in exchange rates 7 - 2 6 15 Balance at 31 December 2024 397 - 58 53 508 LEASE LIABILITIES Amounts in NOK million 2024 2023 Balance at 1 January 563 371 Additions 72 250 Adjustments to existing contracts and terminations 13 21 Accretion of interests 36 29 Payments -146 -102 Currency translations 16 -6 Balance at 31 December 554 563 Amounts in NOK million 2024 2023 Maturity analysis - contractual undiscounted cash \ufb02ows Less than one year 143 127 One to two years 115 116 Two to three years 80 94 Three to four years 53 62 Four to \ufb01ve years 42 39 More than \ufb01ve years 300 319 Total undiscounted lease liabilities at 31 December 733 757 Lease liabilities included in the statement of \ufb01nancial position at 31 December 554 563 Current 112 95 Non-current 442 468 AMOUNTS RECOGNISED IN PROFIT OR LOSS Amounts in NOK million 2024 2023 Interest on lease liabilities -36 -29 Depreciation of right-of-use assets -119 -84 Gains (+) and losses (-) due to terminations, purchases, impairments, and other changes - - Variable lease payments not included in the measurement of lease liabilities -8 -6 Expenses relating to short-term leases -44 -48 Expenses relating to leases of low-value assets, excluding short-term leases of low-value assets -1 -1 Total amount recognised in pro\ufb01t or loss -208 -168 AMOUNTS RECOGNISED IN THE STATEMENT OF CASH FLOW Figures in NOK 2024 2023 Total cash out\ufb02ow for leases 199 157 The Group is committed to ful\ufb01l future cash out\ufb02ows relating to leases amounting to NOK 39 million which is not recorded in the \ufb01nancial position as of 31 December 2024. Extension options Borregaard has lease contracts that include extension options. The Group determines the lease term as the non-cancellable term of the lease, together with any periods covered by an option to extend the lease if it is reasonably certain to be exercised, or any periods covered by an option to terminate the lease, if it is reasonably certain not to be exercised. Set out below are the discounted liability effects related to extension options: Amounts in NOK million 2024 Options to extend not yet recognised, discounted liability effect 113 Recognised options to extend, discounted liability effect 53 NOTE 17 INTANGIBLE ASSETS Capitalised expenditure on internally generated or specially adapted computer programmes is presented as intangible assets. The reinvestment need of specially adapted computer programmes is similar to that of other tangible assets, and the amortisation of intangible assets are presented together with Borregaard\u2019s other depreciation. Research and development (R&D) expenditure is the expenses incurred by Borregaard in conducting research and development, including studies of existing or new products and production processes in order to secure future earnings. Expenditure on research is always expensed as incurred, while expenditure on development is recognised in the statement of \ufb01nancial position if the underlying economic factors are identi\ufb01able and represent probable future economic bene\ufb01ts of which Borregaard has control. Borregaard has a large number of projects in process at all times, but the number of projects that end in capitalisation is limited. This is due to the considerable uncertainty throughout the decision-making process and the fact that only a small percentage of all projects culminate in commercial products. Furthermore, the portion of the total project expenses that qualify for recognition in the statement of \ufb01nancial position are relatively small, as it is only from the time the decision to develop the product is made it can be capitalised, and that decision-making point comes at a late stage of the process. The fair value of intangible assets acquired by the company through business combinations is capitalised. Intangible assets with inde\ufb01nite life will not be amortised while other intangible assets will be amortised over their useful life. Goodwill is initially measured at cost, being the excess of the aggregate of the transferred and the amount recognised for non-controlling interest over the net identi\ufb01ed asset acquired and liabilities assumed. If this consideration is lower than the fair value of the net assets of the subsidiary acquired, the difference is recognised in income statement. Amortisable intangible assets are amortised on a straight-line basis at the following rates: Development 20% and other intangible assets 10\u201315%. Development consists mainly of internal resources being involved in development projects. IT consists mainly of external costs. Amounts in NOK million Development and other intangible assets IT Goodwill Total Book value 1 January 2024 15 32 37 84 Additions 1 17 - 18 Depreciation/Amortisation -8 -9 - -17 Impairment - - - - Currency translations 1 - 2 3 Book value 31 December 2024 9 40 39 88 Initial cost 31 December 2024 175 206 55 436 Accumulated amortisation and impairment -166 -166 -16 -348 Book value 31 December 2024 9 40 39 88 Book value 1 January 2023 22 26 34 82 Additions 2 14 - 16 Depreciation/Amortisation -9 -8 - -17 Impairment - - - - Currency translations - - 3 3 Book value 31 December 2023 15 32 37 84 Initial cost 31 December 2023 174 189 55 418 Accumulated amortisation and impairment -159 -157 -18 -334 Book value 31 December 2023 15 32 37 84 In addition, Borregaard expensed NOK 121 million in research costs in 2024 (NOK 99 million). The amounts include grants and other cost deductions. See Note 34. Emission rights Number of emission rights Emission rights 1 January 2023 690,066 Delivered emission rights for 2022 -143,042 Received emission rights for 2023 157,676 Sold emissions rights during 2023 -40,000 Emission rights 31 December 2023 664,700 Delivered emission rights for 2023 -120,107 Received emission rights for 2024 157,676 Sold emissions rights during 2024 -55,000 Emission rights 31 December 2024 647,269 Obligation to deliver emission rights for 2024 in 2025 -105,915 Available emission rights for 2025 541,354 NOTE 18 PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment are tangible assets intended for production, delivery of goods or administrative purposes and have a lasting useful life. They are recognised in the statement of \ufb01nancial position at cost minus any accumulated depreciation and impairment. Annual major maintenance stops are capitalised as part of property, plant and equipment and depreciated over a period of 12 months. All other maintenance and repairs are expensed under operating expenses as and when the maintenance is carried out, while expenditure on replacements or improvements is added to the cost price of the assets. Borrowing costs related to the construction of the Group\u2019s own property, plant and equipment are capitalised as part of the cost of the asset. Property, plant and equipment are depreciated on a straight-line basis over the useful life, at the following rates: buildings 2\u20135%, machinery, \ufb01xtures and \ufb01ttings mainly 4\u201320%, vehicles 15\u201325% and IT equipment 15\u201333%. The period of depreciation is reviewed each year and if there are changes in useful life, depreciation is adjusted. If there is any indication that an asset may be impaired, the asset will be written down to the recoverable amount if the recoverable amount is lower than the carrying value. The residual value is also calculated and if it is higher than the carrying value, depreciation is stopped. This applies in particular to buildings. The Group is committed to ful\ufb01l contracts amounting to NOK 34 million which is not recorded in the statement of \ufb01nancial position as of 31 December 2024 (NOK 68 million as of 31 December 2023). Investments according to the transition plan (page 57) are not considered to have an impact on the useful life or the value of the existing property, plant, and equipment. Amounts in NOK million Land, buildings and other property Machinery and plants Assets under constructions Fixtures, \ufb01ttings, vehicles, EDP, etc. Total Book value 1 January 2024 1,605 2,434 596 26 4,661 Additions 100 226 363 3 692 Disposals -1 - - - -1 Transferred assets under construction 194 228 -423 1 - Impairment - - - - - Depreciation -117 -298 - -10 -425 Currency translation 24 71 4 - 99 Book value 31 December 2024 1,805 2,661 540 20 5,026 Initial cost 31 December 2024 3,279 8,093 540 234 12,146 Accumulated depreciation and impairment -1,474 -5,432 - -214 -7,120 Book value 31 December 2024 1,805 2,661 540 20 5,026 Book value 1 January 2023 1,567 2,448 322 34 4,371 Additions 81 182 385 3 651 Disposals - - - - - Transferred assets under construction 50 62 -112 - - Impairment - - - - - Depreciation -99 -279 - -11 -389 Currency translation 6 21 1 28 Book value 31 December 2023 1,605 2,434 596 26 4,661 Initial cost 31 December 2023 2,996 7,738 596 232 11,562 Accumulated depreciation and impairment -1,391 -5,304 - -206 -6,901 Book value 31 December 2023 1,605 2,434 596 26 4,661 ", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-414": { "value": "IFRS 16 sets out the principles for the recognition, measurement, presentation and disclosure of leases and requires lessees to account for all leases under a single on-balance sheet model. The Group recognises right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognised, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets. If ownership of the leased asset transfers to the Group at the end of the lease term or the cost re\ufb02ects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. At the commencement date of the lease, the Group recognises lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include \ufb01xed payments (including in substance \ufb01xed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees, if any. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group and payments of penalties for terminating the lease, if the lease term re\ufb02ects the Group exercising the option to terminate. Variable lease payments that do not depend on an index or a rate are recognised as expenses (unless they are incurred to produce inventories) in the period in which the event or condition that triggers the payment occurs. In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to re\ufb02ect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modi\ufb01cation, a change in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an index or rate used to determine such lease payments) or a change in the assessment of an option to purchase the underlying asset. Discount rates used: Machinery, vehicles and equipment: Incremental borrowing rate. Buildings: Implicit interest rate if available. The incremental borrowing rate is based on interbank interest rate (NIBOR, EURIBOR or SOFR) plus margin plus country risk mark-up. The Group\u2019s lease of buildings have lease terms that vary from 1 to 25 years, and several agreements involve a right of renewal which may be exercised during the last period of the lease terms. The Group assesses at the commencement whether it is reasonably certain to exercise the renewal right. Group\u2019s lease liabilities are included in interest-bearing liabilities. See Note 27. The standard includes two recognition exemptions for lessees \u2013 leases of \u2019low-value\u2019 assets (e.g. personal computers) and short-term leases (i.e. leases with a lease term of 12 months or less) that Borregaard has adopted. Lease payments on short-term leases and leases of low-value assets are recognised as expense on a straight-line basis over the lease term. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-415": { "value": "NOTE 13 OTHER INCOME AND EXPENSES 1 Other income and expenses 1 largely consist of material positive and negative non-recurring items, restructuring costs and any substantial write-downs of both tangible and intangible assets. The main purpose of this line is to present material non-recurring items and items substantially relating to other periods separately to ensure that the changes in and comparability of the lines presented in EBITDA 1 , depreciation and amortisation are more relevant to the company. Amounts in NOK million 2024 2023 Accrual related to remediation of contaminated soil at the site in Norway. See Note 35. -30 - Total other income and expenses 1 -30 - ", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-417": { "value": "NOTE 14 NET FINANCIAL ITEMS Interest income and interest costs on loans and receivables are calculated using the effective interest method. Commitment fees and costs related to borrowings are reported as part of interest costs. The \ufb01nancial element of pension costs is included in other \ufb01nance costs and is disclosed in Note 10. Borrowing costs related to assets under construction are recognised in the statement of \ufb01nancial position together with the asset. Foreign currency gains or losses arising from operational assets and liabilities, and the hedging of such, are reported as operating revenues or operating costs. Other foreign currency gains or losses are reported as foreign exchange gain and foreign exchange loss. The foreign currency gains or losses related to net investments in subsidiaries are disclosed in Note 29. There are no major differences between recognised interest income and in\ufb02ow of interests. There are no major differences between recognised interest expense and out\ufb02ow of interests. FINANCE INCOME AND FINANCE COSTS Amounts in NOK million 2024 2023 Interest income 33 30 Foreign exchange gain 332 374 Other \ufb01nance income 1 5 Total \ufb01nance income 366 409 Interest costs -193 -171 Foreign exchange loss -349 -389 Other \ufb01nance costs -6 -7 Total \ufb01nance costs -548 -567 Share of pro\ufb01t/loss from associate -22 -9 Net \ufb01nancial items -204 -167 ", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "mtpnn30": { "value": "NOTE 14 NET FINANCIAL ITEMS Interest income and interest costs on loans and receivables are calculated using the effective interest method. Commitment fees and costs related to borrowings are reported as part of interest costs. The \ufb01nancial element of pension costs is included in other \ufb01nance costs and is disclosed in Note 10. Borrowing costs related to assets under construction are recognised in the statement of \ufb01nancial position together with the asset. Foreign currency gains or losses arising from operational assets and liabilities, and the hedging of such, are reported as operating revenues or operating costs. Other foreign currency gains or losses are reported as foreign exchange gain and foreign exchange loss. The foreign currency gains or losses related to net investments in subsidiaries are disclosed in Note 29. There are no major differences between recognised interest income and in\ufb02ow of interests. There are no major differences between recognised interest expense and out\ufb02ow of interests. FINANCE INCOME AND FINANCE COSTS Amounts in NOK million 2024 2023 Interest income 33 30 Foreign exchange gain 332 374 Other \ufb01nance income 1 5 Total \ufb01nance income 366 409 Interest costs -193 -171 Foreign exchange loss -349 -389 Other \ufb01nance costs -6 -7 Total \ufb01nance costs -548 -567 Share of pro\ufb01t/loss from associate -22 -9 Net \ufb01nancial items -204 -167 ", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-416": { "value": "NOTE 14 NET FINANCIAL ITEMS Interest income and interest costs on loans and receivables are calculated using the effective interest method. Commitment fees and costs related to borrowings are reported as part of interest costs. The \ufb01nancial element of pension costs is included in other \ufb01nance costs and is disclosed in Note 10. Borrowing costs related to assets under construction are recognised in the statement of \ufb01nancial position together with the asset. Foreign currency gains or losses arising from operational assets and liabilities, and the hedging of such, are reported as operating revenues or operating costs. Other foreign currency gains or losses are reported as foreign exchange gain and foreign exchange loss. The foreign currency gains or losses related to net investments in subsidiaries are disclosed in Note 29. There are no major differences between recognised interest income and in\ufb02ow of interests. There are no major differences between recognised interest expense and out\ufb02ow of interests. FINANCE INCOME AND FINANCE COSTS Amounts in NOK million 2024 2023 Interest income 33 30 Foreign exchange gain 332 374 Other \ufb01nance income 1 5 Total \ufb01nance income 366 409 Interest costs -193 -171 Foreign exchange loss -349 -389 Other \ufb01nance costs -6 -7 Total \ufb01nance costs -548 -567 Share of pro\ufb01t/loss from associate -22 -9 Net \ufb01nancial items -204 -167 ", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-419": { "value": "NOTE 14 NET FINANCIAL ITEMS Interest income and interest costs on loans and receivables are calculated using the effective interest method. Commitment fees and costs related to borrowings are reported as part of interest costs. The \ufb01nancial element of pension costs is included in other \ufb01nance costs and is disclosed in Note 10. Borrowing costs related to assets under construction are recognised in the statement of \ufb01nancial position together with the asset. Foreign currency gains or losses arising from operational assets and liabilities, and the hedging of such, are reported as operating revenues or operating costs. Other foreign currency gains or losses are reported as foreign exchange gain and foreign exchange loss. The foreign currency gains or losses related to net investments in subsidiaries are disclosed in Note 29. There are no major differences between recognised interest income and in\ufb02ow of interests. There are no major differences between recognised interest expense and out\ufb02ow of interests. FINANCE INCOME AND FINANCE COSTS Amounts in NOK million 2024 2023 Interest income 33 30 Foreign exchange gain 332 374 Other \ufb01nance income 1 5 Total \ufb01nance income 366 409 Interest costs -193 -171 Foreign exchange loss -349 -389 Other \ufb01nance costs -6 -7 Total \ufb01nance costs -548 -567 Share of pro\ufb01t/loss from associate -22 -9 Net \ufb01nancial items -204 -167 ", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-418": { "value": "NOTE 14 NET FINANCIAL ITEMS Interest income and interest costs on loans and receivables are calculated using the effective interest method. Commitment fees and costs related to borrowings are reported as part of interest costs. The \ufb01nancial element of pension costs is included in other \ufb01nance costs and is disclosed in Note 10. Borrowing costs related to assets under construction are recognised in the statement of \ufb01nancial position together with the asset. Foreign currency gains or losses arising from operational assets and liabilities, and the hedging of such, are reported as operating revenues or operating costs. Other foreign currency gains or losses are reported as foreign exchange gain and foreign exchange loss. The foreign currency gains or losses related to net investments in subsidiaries are disclosed in Note 29. There are no major differences between recognised interest income and in\ufb02ow of interests. There are no major differences between recognised interest expense and out\ufb02ow of interests. FINANCE INCOME AND FINANCE COSTS Amounts in NOK million 2024 2023 Interest income 33 30 Foreign exchange gain 332 374 Other \ufb01nance income 1 5 Total \ufb01nance income 366 409 Interest costs -193 -171 Foreign exchange loss -349 -389 Other \ufb01nance costs -6 -7 Total \ufb01nance costs -548 -567 Share of pro\ufb01t/loss from associate -22 -9 Net \ufb01nancial items -204 -167 ", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-420": { "value": "Interest income and interest costs on loans and receivables are calculated using the effective interest method. Commitment fees and costs related to borrowings are reported as part of interest costs. The \ufb01nancial element of pension costs is included in other \ufb01nance costs and is disclosed in Note 10. Borrowing costs related to assets under construction are recognised in the statement of \ufb01nancial position together with the asset. Foreign currency gains or losses arising from operational assets and liabilities, and the hedging of such, are reported as operating revenues or operating costs. Other foreign currency gains or losses are reported as foreign exchange gain and foreign exchange loss. The foreign currency gains or losses related to net investments in subsidiaries are disclosed in Note 29. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-421": { "value": "Interest income and interest costs on loans and receivables are calculated using the effective interest method. Commitment fees and costs related to borrowings are reported as part of interest costs. The \ufb01nancial element of pension costs is included in other \ufb01nance costs and is disclosed in Note 10. Borrowing costs related to assets under construction are recognised in the statement of \ufb01nancial position together with the asset. Foreign currency gains or losses arising from operational assets and liabilities, and the hedging of such, are reported as operating revenues or operating costs. Other foreign currency gains or losses are reported as foreign exchange gain and foreign exchange loss. The foreign currency gains or losses related to net investments in subsidiaries are disclosed in Note 29. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-422": { "value": "NOTE 15 TAXES Income tax expense consists of the total of current taxes and changes in deferred tax. Current taxes are recognised in the \ufb01nancial statements at the amount that is expected to be paid to the tax authorities based on taxable income reported for entities included in the combined \ufb01nancial statements. Current taxes and changes in deferred tax are taken to other comprehensive income to the extent that they relate to items that are included in other comprehensive income. Deferred tax in the statement of \ufb01nancial position have been calculated at the nominal tax rate based on temporary differences between accounting and tax basis of assets and liabilities on the statement of \ufb01nancial position date. Deferred tax liability relating to goodwill has not been recognised in the statement of \ufb01nancial position. Deferred tax assets are continuously assessed and are only recognised in the statement of \ufb01nancial position to the extent it is probable that future taxable pro\ufb01t will be large enough for the asset to be usefully applied. Deferred tax liability and deferred tax assets are offset as far as this is possible under taxation legislation and regulations. TAX EXPENSE Amounts in NOK million 2024 2023 Pro\ufb01t before tax 1,079 1,124 Current tax expense -292 -254 Change in deferred tax 42 -14 Total tax expense -250 -268 Tax as % of Pro\ufb01t/loss before taxes 23.2% 23.8% Reconciliation of the group\u2019s tax rate In the following table, reported taxes are reconciled with the tax charge based on the Norwegian tax rate of 22%. The main tax components are speci\ufb01ed. Amounts in NOK million 2024 2023 22% of pro\ufb01t before taxes (tax rate in Norway) -237 -247 Foreign operations with other tax rates than 22% -10 -7 Joint venture and associate companies -4 -1 Permanent differences -3 -12 Other current taxes 2 -1 Correction previous years 1 0 Other deferred taxes 1 0 The Group's total tax expense -250 -268 In addition to the compilation of the tax rates in the various countries in which Borregaard operates and has taxable income, the income tax rate for the Group is also impacted by the following: LignoTech Florida is a limited liability company (LLC) which is taxed on the owners\u2019 hand. Pro\ufb01t before tax is 100% consolidated in the Borregaard Group, whereas the tax expense is calculated based on Borregaard\u2019s 55% ownership. Consequently, pro\ufb01t attributable to non-controlling interests for LignoTech Florida (45%) is calculated on pro\ufb01t before tax. Share of pro\ufb01t after tax from the joint venture and associate companies is accounted for as part of pro\ufb01t before tax. The net loss from the joint venture and associate companies does not decrease the tax expense and thus increases the Group\u2019s tax rate. There are carry forward tax losses in the Group which will not be recognised as deferred tax assets, and hence increase the Group\u2019s tax rate. Deferred tax liabilities Deferred tax liability consists of the Group\u2019s tax liabilities that are payable in the future. The table below lists deferred tax assets and liabilities relating to the timing differences between tax accounting and \ufb01nancial accounting. Amounts in NOK million 2024 2023 Deferred tax on tax increasing/(reducing) differences Hedging taken to comprehensive income -153 -68 Intangible assets and Property, plant and equipment 237 226 Net pension liabilities 27 15 Gain and loss tax deferral 1 1 Other non-current items -7 -7 Total non-current items 105 167 Current receivables -4 -3 Inventories 54 75 Provisions -10 -8 Other current items -113 -98 Total current items -73 -34 Losses/tax credits carried forward -37 -37 Net deferred tax -5 96 Deferred tax assets, not recognised 33 33 Net deferred tax, recognised 28 129 Change in deferred tax 101 3 Change in deferred tax taken to comprehensive income -74 -19 Acquisitions/sale of companies, translation effects, etc. 15 2 Change in deferred tax income statement 42 -14 NET DEFERRED TAX PRESENTED IN STATEMENT OF FINANCIAL POSITION Amounts in NOK million 2024 2023 Deferred tax 148 130 Deferred tax assets 120 1 Net deferred tax 28 129 LOSSES CARRIED FORWARD BY EXPIRY DATE Amounts in NOK million 2024 2023 Without expiry date 132 139 Total tax losses carried forward 132 139 TAX REDUCING TIMING DIFFERENCES WITH CORRESPONDING DEFERRED TAX ASSETS 2024 Amounts in NOK million Tax reducing timing differences Recognised deferred tax assets Unrecognised deferred tax assets Total deferred tax assets Losses/tax credits carried forward by country Spain 132 - 33 33 USA - 4 - 4 Total 132 4 33 37 Other tax reducing timing differences 1,307 260 - 260 Total tax reducing timing differences 1,439 264 33 297 Netted deferred tax -762 -144 - -144 Net tax reducing timing differences 677 120 33 153 Deferred tax assets are only capitalised to the extent that it is probable that there will be suf\ufb01cient future taxable pro\ufb01t for the tax asset to be used, either because the unit recently reported a pro\ufb01t or because assets with excess value have been identi\ufb01ed. If future pro\ufb01ts are not likely to be suf\ufb01cient to absorb the tax reducing timing differences, deferred tax assets are not recognised. TAX PAYMENTS PER COUNTRY Amounts in NOK million Tax paid Norway -201 United Kingdom -3 Germany -5 Czech Republic -12 USA -41 Brazil -3 India -1 Singapore -1 Other countries -1 Total tax paid -268 Borregaard will always seek to meet the tax laws requirements in the countries where we have commercial activity. The company will not enter into arrangements which could be considered arti\ufb01cial, or which have tax avoidance as their sole or main objective. Borregaard uses the OECD guidelines for internal pricing, which is an important factor in ensuring that pro\ufb01ts and taxes are distributed fairly among different countries. Pilar Two legislation has been enacted or substantively enacted in certain jurisdictions in which the Group operates. However, this legislation does not apply to the Group as its consolidated revenue does not exceed EUR 750 million. ", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-423": { "value": "Income tax expense consists of the total of current taxes and changes in deferred tax. Current taxes are recognised in the \ufb01nancial statements at the amount that is expected to be paid to the tax authorities based on taxable income reported for entities included in the combined \ufb01nancial statements. Current taxes and changes in deferred tax are taken to other comprehensive income to the extent that they relate to items that are included in other comprehensive income. Deferred tax in the statement of \ufb01nancial position have been calculated at the nominal tax rate based on temporary differences between accounting and tax basis of assets and liabilities on the statement of \ufb01nancial position date. Deferred tax liability relating to goodwill has not been recognised in the statement of \ufb01nancial position. Deferred tax assets are continuously assessed and are only recognised in the statement of \ufb01nancial position to the extent it is probable that future taxable pro\ufb01t will be large enough for the asset to be usefully applied. Deferred tax liability and deferred tax assets are offset as far as this is possible under taxation legislation and regulations. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-425": { "value": "Deferred tax in the statement of \ufb01nancial position have been calculated at the nominal tax rate based on temporary differences between accounting and tax basis of assets and liabilities on the statement of \ufb01nancial position date. Deferred tax liability relating to goodwill has not been recognised in the statement of \ufb01nancial position. Deferred tax assets are continuously assessed and are only recognised in the statement of \ufb01nancial position to the extent it is probable that future taxable pro\ufb01t will be large enough for the asset to be usefully applied. Deferred tax liability and deferred tax assets are offset as far as this is possible under taxation legislation and regulations. Deferred tax liabilities Deferred tax liability consists of the Group\u2019s tax liabilities that are payable in the future. The table below lists deferred tax assets and liabilities relating to the timing differences between tax accounting and \ufb01nancial accounting. Amounts in NOK million 2024 2023 Deferred tax on tax increasing/(reducing) differences Hedging taken to comprehensive income -153 -68 Intangible assets and Property, plant and equipment 237 226 Net pension liabilities 27 15 Gain and loss tax deferral 1 1 Other non-current items -7 -7 Total non-current items 105 167 Current receivables -4 -3 Inventories 54 75 Provisions -10 -8 Other current items -113 -98 Total current items -73 -34 Losses/tax credits carried forward -37 -37 Net deferred tax -5 96 Deferred tax assets, not recognised 33 33 Net deferred tax, recognised 28 129 Change in deferred tax 101 3 Change in deferred tax taken to comprehensive income -74 -19 Acquisitions/sale of companies, translation effects, etc. 15 2 Change in deferred tax income statement 42 -14 NET DEFERRED TAX PRESENTED IN STATEMENT OF FINANCIAL POSITION Amounts in NOK million 2024 2023 Deferred tax 148 130 Deferred tax assets 120 1 Net deferred tax 28 129 LOSSES CARRIED FORWARD BY EXPIRY DATE Amounts in NOK million 2024 2023 Without expiry date 132 139 Total tax losses carried forward 132 139 TAX REDUCING TIMING DIFFERENCES WITH CORRESPONDING DEFERRED TAX ASSETS 2024 Amounts in NOK million Tax reducing timing differences Recognised deferred tax assets Unrecognised deferred tax assets Total deferred tax assets Losses/tax credits carried forward by country Spain 132 - 33 33 USA - 4 - 4 Total 132 4 33 37 Other tax reducing timing differences 1,307 260 - 260 Total tax reducing timing differences 1,439 264 33 297 Netted deferred tax -762 -144 - -144 Net tax reducing timing differences 677 120 33 153 Deferred tax assets are only capitalised to the extent that it is probable that there will be suf\ufb01cient future taxable pro\ufb01t for the tax asset to be used, either because the unit recently reported a pro\ufb01t or because assets with excess value have been identi\ufb01ed. If future pro\ufb01ts are not likely to be suf\ufb01cient to absorb the tax reducing timing differences, deferred tax assets are not recognised. ", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-424": { "value": "Deferred tax in the statement of \ufb01nancial position have been calculated at the nominal tax rate based on temporary differences between accounting and tax basis of assets and liabilities on the statement of \ufb01nancial position date. Deferred tax liability relating to goodwill has not been recognised in the statement of \ufb01nancial position. Deferred tax assets are continuously assessed and are only recognised in the statement of \ufb01nancial position to the extent it is probable that future taxable pro\ufb01t will be large enough for the asset to be usefully applied. Deferred tax liability and deferred tax assets are offset as far as this is possible under taxation legislation and regulations. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-426": { "value": "NOTE 16 EARNINGS PER SHARE (EPS) AND DIVIDEND Earnings per share are calculated on the basis of pro\ufb01t for the year after non-controlling interests. As a result of the Borregaard Group\u2019s option programme (see Note 9), outstanding shares may be diluted when options are exercised. In order to take into account this future increase in the number of shares outstanding, diluted earnings per share are calculated in addition to basic earnings per share. In this calculation, the average number of shares outstanding is adjusted to take into account the estimated dilutive effect of the option programme. Amounts in NOK million 2024 2023 Pro\ufb01t/loss for the year after non- controlling interests for continuing operations 823 870 Pro\ufb01t/loss for the year after non-controlling interests 823 870 Amounts in million shares Weighted average number of shares outstanding 99.70 99.71 Estimated dilution effect option programme 0.05 0.21 Weighted average number of shares outstanding diluted 99.75 99.92 The share capital consists of 100 million shares including 448,779 treasury shares as of 31 December 2024. The average number of outstanding shares during 2024 is 99,699,036 and the average number of diluted shares in 2024 is 99,753,361. Amounts in NOK 2024 2023 Earnings per share 8.25 8.73 Earnings per diluted share 8.25 8.71 Ordinary dividend per share 4.25 3.75 Extraordinary dividend per share - - ", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-427": { "value": "Earnings per share are calculated on the basis of pro\ufb01t for the year after non-controlling interests. As a result of the Borregaard Group\u2019s option programme (see Note 9), outstanding shares may be diluted when options are exercised. In order to take into account this future increase in the number of shares outstanding, diluted earnings per share are calculated in addition to basic earnings per share. In this calculation, the average number of shares outstanding is adjusted to take into account the estimated dilutive effect of the option programme. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-428": { "value": "Amounts in NOK million 2024 2023 Pro\ufb01t/loss for the year after non- controlling interests for continuing operations 823 870 Pro\ufb01t/loss for the year after non-controlling interests 823 870 Amounts in million shares Weighted average number of shares outstanding 99.70 99.71 Estimated dilution effect option programme 0.05 0.21 Weighted average number of shares outstanding diluted 99.75 99.92 Amounts in NOK 2024 2023 Earnings per share 8.25 8.73 Earnings per diluted share 8.25 8.71 Ordinary dividend per share 4.25 3.75 Extraordinary dividend per share - - ", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-429": { "value": "4.25", "decimals": 2, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK/xbrli:shares" } }, "reg-ix-430": { "value": "3.75", "decimals": 2, "dimensions": { "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:NOK/xbrli:shares" } }, "reg-ix-431": { "value": "NOTE 17 INTANGIBLE ASSETS Capitalised expenditure on internally generated or specially adapted computer programmes is presented as intangible assets. The reinvestment need of specially adapted computer programmes is similar to that of other tangible assets, and the amortisation of intangible assets are presented together with Borregaard\u2019s other depreciation. Research and development (R&D) expenditure is the expenses incurred by Borregaard in conducting research and development, including studies of existing or new products and production processes in order to secure future earnings. Expenditure on research is always expensed as incurred, while expenditure on development is recognised in the statement of \ufb01nancial position if the underlying economic factors are identi\ufb01able and represent probable future economic bene\ufb01ts of which Borregaard has control. Borregaard has a large number of projects in process at all times, but the number of projects that end in capitalisation is limited. This is due to the considerable uncertainty throughout the decision-making process and the fact that only a small percentage of all projects culminate in commercial products. Furthermore, the portion of the total project expenses that qualify for recognition in the statement of \ufb01nancial position are relatively small, as it is only from the time the decision to develop the product is made it can be capitalised, and that decision-making point comes at a late stage of the process. The fair value of intangible assets acquired by the company through business combinations is capitalised. Intangible assets with inde\ufb01nite life will not be amortised while other intangible assets will be amortised over their useful life. Goodwill is initially measured at cost, being the excess of the aggregate of the transferred and the amount recognised for non-controlling interest over the net identi\ufb01ed asset acquired and liabilities assumed. If this consideration is lower than the fair value of the net assets of the subsidiary acquired, the difference is recognised in income statement. Amortisable intangible assets are amortised on a straight-line basis at the following rates: Development 20% and other intangible assets 10\u201315%. Development consists mainly of internal resources being involved in development projects. IT consists mainly of external costs. Amounts in NOK million Development and other intangible assets IT Goodwill Total Book value 1 January 2024 15 32 37 84 Additions 1 17 - 18 Depreciation/Amortisation -8 -9 - -17 Impairment - - - - Currency translations 1 - 2 3 Book value 31 December 2024 9 40 39 88 Initial cost 31 December 2024 175 206 55 436 Accumulated amortisation and impairment -166 -166 -16 -348 Book value 31 December 2024 9 40 39 88 Book value 1 January 2023 22 26 34 82 Additions 2 14 - 16 Depreciation/Amortisation -9 -8 - -17 Impairment - - - - Currency translations - - 3 3 Book value 31 December 2023 15 32 37 84 Initial cost 31 December 2023 174 189 55 418 Accumulated amortisation and impairment -159 -157 -18 -334 Book value 31 December 2023 15 32 37 84 In addition, Borregaard expensed NOK 121 million in research costs in 2024 (NOK 99 million). The amounts include grants and other cost deductions. See Note 34. Emission rights Government granted and purchased CO\u2082 emission allowances expected to be used towards Borregaard\u2019s own emissions are recognised as intangible assets at nominal value (cost). In case there are actual CO\u2082 emissions exceeding the level covered by emission rights, those are recognised as a liability. Sale of government granted CO\u2082 emission rights are recognised at the time of sale at the transaction price. See table below for information regarding sale of, obligation to deliver and owned emission rights. Market price of the emission rights was EUR 72.78 as of 31 December 2024 (EUR 80.37). Emission rights Number of emission rights Emission rights 1 January 2023 690,066 Delivered emission rights for 2022 -143,042 Received emission rights for 2023 157,676 Sold emissions rights during 2023 -40,000 Emission rights 31 December 2023 664,700 Delivered emission rights for 2023 -120,107 Received emission rights for 2024 157,676 Sold emissions rights during 2024 -55,000 Emission rights 31 December 2024 647,269 Obligation to deliver emission rights for 2024 in 2025 -105,915 Available emission rights for 2025 541,354 ", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-433": { "value": "NOTE 17 INTANGIBLE ASSETS Capitalised expenditure on internally generated or specially adapted computer programmes is presented as intangible assets. The reinvestment need of specially adapted computer programmes is similar to that of other tangible assets, and the amortisation of intangible assets are presented together with Borregaard\u2019s other depreciation. Research and development (R&D) expenditure is the expenses incurred by Borregaard in conducting research and development, including studies of existing or new products and production processes in order to secure future earnings. Expenditure on research is always expensed as incurred, while expenditure on development is recognised in the statement of \ufb01nancial position if the underlying economic factors are identi\ufb01able and represent probable future economic bene\ufb01ts of which Borregaard has control. Borregaard has a large number of projects in process at all times, but the number of projects that end in capitalisation is limited. This is due to the considerable uncertainty throughout the decision-making process and the fact that only a small percentage of all projects culminate in commercial products. Furthermore, the portion of the total project expenses that qualify for recognition in the statement of \ufb01nancial position are relatively small, as it is only from the time the decision to develop the product is made it can be capitalised, and that decision-making point comes at a late stage of the process. The fair value of intangible assets acquired by the company through business combinations is capitalised. Intangible assets with inde\ufb01nite life will not be amortised while other intangible assets will be amortised over their useful life. Goodwill is initially measured at cost, being the excess of the aggregate of the transferred and the amount recognised for non-controlling interest over the net identi\ufb01ed asset acquired and liabilities assumed. If this consideration is lower than the fair value of the net assets of the subsidiary acquired, the difference is recognised in income statement. Amortisable intangible assets are amortised on a straight-line basis at the following rates: Development 20% and other intangible assets 10\u201315%. Development consists mainly of internal resources being involved in development projects. IT consists mainly of external costs. Amounts in NOK million Development and other intangible assets IT Goodwill Total Book value 1 January 2024 15 32 37 84 Additions 1 17 - 18 Depreciation/Amortisation -8 -9 - -17 Impairment - - - - Currency translations 1 - 2 3 Book value 31 December 2024 9 40 39 88 Initial cost 31 December 2024 175 206 55 436 Accumulated amortisation and impairment -166 -166 -16 -348 Book value 31 December 2024 9 40 39 88 Book value 1 January 2023 22 26 34 82 Additions 2 14 - 16 Depreciation/Amortisation -9 -8 - -17 Impairment - - - - Currency translations - - 3 3 Book value 31 December 2023 15 32 37 84 Initial cost 31 December 2023 174 189 55 418 Accumulated amortisation and impairment -159 -157 -18 -334 Book value 31 December 2023 15 32 37 84 In addition, Borregaard expensed NOK 121 million in research costs in 2024 (NOK 99 million). The amounts include grants and other cost deductions. See Note 34. Emission rights Government granted and purchased CO\u2082 emission allowances expected to be used towards Borregaard\u2019s own emissions are recognised as intangible assets at nominal value (cost). In case there are actual CO\u2082 emissions exceeding the level covered by emission rights, those are recognised as a liability. Sale of government granted CO\u2082 emission rights are recognised at the time of sale at the transaction price. See table below for information regarding sale of, obligation to deliver and owned emission rights. Market price of the emission rights was EUR 72.78 as of 31 December 2024 (EUR 80.37). Emission rights Number of emission rights Emission rights 1 January 2023 690,066 Delivered emission rights for 2022 -143,042 Received emission rights for 2023 157,676 Sold emissions rights during 2023 -40,000 Emission rights 31 December 2023 664,700 Delivered emission rights for 2023 -120,107 Received emission rights for 2024 157,676 Sold emissions rights during 2024 -55,000 Emission rights 31 December 2024 647,269 Obligation to deliver emission rights for 2024 in 2025 -105,915 Available emission rights for 2025 541,354 ", "dimensions": { "concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-435": { "value": "Capitalised expenditure on internally generated or specially adapted computer programmes is presented as intangible assets. The reinvestment need of specially adapted computer programmes is similar to that of other tangible assets, and the amortisation of intangible assets are presented together with Borregaard\u2019s other depreciation. Research and development (R&D) expenditure is the expenses incurred by Borregaard in conducting research and development, including studies of existing or new products and production processes in order to secure future earnings. Expenditure on research is always expensed as incurred, while expenditure on development is recognised in the statement of \ufb01nancial position if the underlying economic factors are identi\ufb01able and represent probable future economic bene\ufb01ts of which Borregaard has control. Borregaard has a large number of projects in process at all times, but the number of projects that end in capitalisation is limited. This is due to the considerable uncertainty throughout the decision-making process and the fact that only a small percentage of all projects culminate in commercial products. Furthermore, the portion of the total project expenses that qualify for recognition in the statement of \ufb01nancial position are relatively small, as it is only from the time the decision to develop the product is made it can be capitalised, and that decision-making point comes at a late stage of the process. The fair value of intangible assets acquired by the company through business combinations is capitalised. Intangible assets with inde\ufb01nite life will not be amortised while other intangible assets will be amortised over their useful life. Goodwill is initially measured at cost, being the excess of the aggregate of the transferred and the amount recognised for non-controlling interest over the net identi\ufb01ed asset acquired and liabilities assumed. If this consideration is lower than the fair value of the net assets of the subsidiary acquired, the difference is recognised in income statement. Amortisable intangible assets are amortised on a straight-line basis at the following rates: Development 20% and other intangible assets 10\u201315%. Development consists mainly of internal resources being involved in development projects. IT consists mainly of external costs. Emission rights Government granted and purchased CO\u2082 emission allowances expected to be used towards Borregaard\u2019s own emissions are recognised as intangible assets at nominal value (cost). In case there are actual CO\u2082 emissions exceeding the level covered by emission rights, those are recognised as a liability. Sale of government granted CO\u2082 emission rights are recognised at the time of sale at the transaction price. See table below for information regarding sale of, obligation to deliver and owned emission rights. Market price of the emission rights was EUR 72.78 as of 31 December 2024 (EUR 80.37). ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-436": { "value": "Research and development (R&D) expenditure is the expenses incurred by Borregaard in conducting research and development, including studies of existing or new products and production processes in order to secure future earnings. Expenditure on research is always expensed as incurred, while expenditure on development is recognised in the statement of \ufb01nancial position if the underlying economic factors are identi\ufb01able and represent probable future economic bene\ufb01ts of which Borregaard has control. Borregaard has a large number of projects in process at all times, but the number of projects that end in capitalisation is limited. This is due to the considerable uncertainty throughout the decision-making process and the fact that only a small percentage of all projects culminate in commercial products. Furthermore, the portion of the total project expenses that qualify for recognition in the statement of \ufb01nancial position are relatively small, as it is only from the time the decision to develop the product is made it can be capitalised, and that decision-making point comes at a late stage of the process. The fair value of intangible assets acquired by the company through business combinations is capitalised. Intangible assets with inde\ufb01nite life will not be amortised while other intangible assets will be amortised over their useful life. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-437": { "value": "Emission rights Government granted and purchased CO\u2082 emission allowances expected to be used towards Borregaard\u2019s own emissions are recognised as intangible assets at nominal value (cost). In case there are actual CO\u2082 emissions exceeding the level covered by emission rights, those are recognised as a liability. Sale of government granted CO\u2082 emission rights are recognised at the time of sale at the transaction price. See table below for information regarding sale of, obligation to deliver and owned emission rights. Market price of the emission rights was EUR 72.78 as of 31 December 2024 (EUR 80.37). ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmissionRightsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-438": { "value": "NOTE 18 PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment are tangible assets intended for production, delivery of goods or administrative purposes and have a lasting useful life. They are recognised in the statement of \ufb01nancial position at cost minus any accumulated depreciation and impairment. Annual major maintenance stops are capitalised as part of property, plant and equipment and depreciated over a period of 12 months. All other maintenance and repairs are expensed under operating expenses as and when the maintenance is carried out, while expenditure on replacements or improvements is added to the cost price of the assets. Borrowing costs related to the construction of the Group\u2019s own property, plant and equipment are capitalised as part of the cost of the asset. Property, plant and equipment are depreciated on a straight-line basis over the useful life, at the following rates: buildings 2\u20135%, machinery, \ufb01xtures and \ufb01ttings mainly 4\u201320%, vehicles 15\u201325% and IT equipment 15\u201333%. The period of depreciation is reviewed each year and if there are changes in useful life, depreciation is adjusted. If there is any indication that an asset may be impaired, the asset will be written down to the recoverable amount if the recoverable amount is lower than the carrying value. The residual value is also calculated and if it is higher than the carrying value, depreciation is stopped. This applies in particular to buildings. The Group is committed to ful\ufb01l contracts amounting to NOK 34 million which is not recorded in the statement of \ufb01nancial position as of 31 December 2024 (NOK 68 million as of 31 December 2023). Investments according to the transition plan (page 57) are not considered to have an impact on the useful life or the value of the existing property, plant, and equipment. Amounts in NOK million Land, buildings and other property Machinery and plants Assets under constructions Fixtures, \ufb01ttings, vehicles, EDP, etc. Total Book value 1 January 2024 1,605 2,434 596 26 4,661 Additions 100 226 363 3 692 Disposals -1 - - - -1 Transferred assets under construction 194 228 -423 1 - Impairment - - - - - Depreciation -117 -298 - -10 -425 Currency translation 24 71 4 - 99 Book value 31 December 2024 1,805 2,661 540 20 5,026 Initial cost 31 December 2024 3,279 8,093 540 234 12,146 Accumulated depreciation and impairment -1,474 -5,432 - -214 -7,120 Book value 31 December 2024 1,805 2,661 540 20 5,026 Book value 1 January 2023 1,567 2,448 322 34 4,371 Additions 81 182 385 3 651 Disposals - - - - - Transferred assets under construction 50 62 -112 - - Impairment - - - - - Depreciation -99 -279 - -11 -389 Currency translation 6 21 1 28 Book value 31 December 2023 1,605 2,434 596 26 4,661 Initial cost 31 December 2023 2,996 7,738 596 232 11,562 Accumulated depreciation and impairment -1,391 -5,304 - -206 -6,901 Book value 31 December 2023 1,605 2,434 596 26 4,661 ", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-439": { "value": "Property, plant and equipment are tangible assets intended for production, delivery of goods or administrative purposes and have a lasting useful life. They are recognised in the statement of \ufb01nancial position at cost minus any accumulated depreciation and impairment. Annual major maintenance stops are capitalised as part of property, plant and equipment and depreciated over a period of 12 months. All other maintenance and repairs are expensed under operating expenses as and when the maintenance is carried out, while expenditure on replacements or improvements is added to the cost price of the assets. Borrowing costs related to the construction of the Group\u2019s own property, plant and equipment are capitalised as part of the cost of the asset. Property, plant and equipment are depreciated on a straight-line basis over the useful life, at the following rates: buildings 2\u20135%, machinery, \ufb01xtures and \ufb01ttings mainly 4\u201320%, vehicles 15\u201325% and IT equipment 15\u201333%. The period of depreciation is reviewed each year and if there are changes in useful life, depreciation is adjusted. If there is any indication that an asset may be impaired, the asset will be written down to the recoverable amount if the recoverable amount is lower than the carrying value. The residual value is also calculated and if it is higher than the carrying value, depreciation is stopped. This applies in particular to buildings. The Group is committed to ful\ufb01l contracts amounting to NOK 34 million which is not recorded in the statement of \ufb01nancial position as of 31 December 2024 (NOK 68 million as of 31 December 2023). Investments according to the transition plan (page 57) are not considered to have an impact on the useful life or the value of the existing property, plant, and equipment. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-440": { "value": "Annual major maintenance stops are capitalised as part of property, plant and equipment and depreciated over a period of 12 months. All other maintenance and repairs are expensed under operating expenses as and when the maintenance is carried out, while expenditure on replacements or improvements is added to the cost price of the assets.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRepairsAndMaintenanceExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "mtpnn42": { "value": " Borrowing costs related to the construction of the Group\u2019s own property, plant and equipment are capitalised as part of the cost of the asset. ", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingCostsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-441": { "value": " Borrowing costs related to the construction of the Group\u2019s own property, plant and equipment are capitalised as part of the cost of the asset. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingCostsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-442": { "value": "Property, plant and equipment are depreciated on a straight-line basis over the useful life, at the following rates: buildings 2\u20135%, machinery, \ufb01xtures and \ufb01ttings mainly 4\u201320%, vehicles 15\u201325% and IT equipment 15\u201333%. The period of depreciation is reviewed each year and if there are changes in useful life, depreciation is adjusted. If there is any indication that an asset may be impaired, the asset will be written down to the recoverable amount if the recoverable amount is lower than the carrying value. The residual value is also calculated and if it is higher than the carrying value, depreciation is stopped. This applies in particular to buildings. The Group is committed to ful\ufb01l contracts amounting to NOK 34 million which is not recorded in the statement of \ufb01nancial position as of 31 December 2024 (NOK 68 million as of 31 December 2023). ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-444": { "value": "Loans, as well as trade receivables, are held to collect contractual cash \ufb02ows and are expected to give rise to cash \ufb02ows solely representing payments of principal and interest. The Group analysed the contractual cash \ufb02ow characteristics of those instruments and concluded that they meet the criteria for amortised cost measurement under IFRS 9. The Group applied the simpli\ufb01ed approach and record lifetime expected losses on all trade receivables. The Group has considered that due to the historical low level of credit losses, the loss allowance will not be materially different from the current level. Transactions in foreign currencies are recognised at the exchange rate on the date of the transaction, while monetary items in foreign currencies are presented at the exchange rate on the balance sheet date, and any gain/ loss is reported in the income statement as \ufb01nancial items. Revenues and expenses in subsidiaries with a functional currency different from the Group\u2019s presentation currency are translated monthly at the average exchange rate for the month and accumulated. Statement of \ufb01nancial position items in subsidiaries with a different functional currency are translated at the exchange rate on the balance sheet date. Translation differences are reported in comprehensive income. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-446": { "value": "The Group uses the following hierarchy for determining and disclosing the fair value of \ufb01nancial instruments, by valuation technique: Level 1: Quoted market prices in an active market (that are unadjusted) for identical assets and liabilities. Level 2: Valuation techniques (for which the lowest level input that is signi\ufb01cant to the fair value measurement is directly or indirectly observable). Level 3: Valuation techniques (for which the lowest level input that is signi\ufb01cant to the fair value measurement is unobservable). OVERVIEW OF FINANCIAL INSTRUMENTS 2024 Amounts in NOK million Note Measure- ment level Financial instruments at fair value through pro\ufb01t and loss Financial instruments at fair value - hedging instruments Financial liabilities measured at amortised cost Deposits and receivables measured at amortised cost Total Of this interest- bearing Fair value Non-current assets Non-current \ufb01nancial receivables 20 2 - - - 191 191 1 191 Share investments 20 2 - - - 28 28 - 28 Non-current derivatives 20, 29 2 - 1 - - 1 - 1 Total - 1 - 219 220 1 220 Current assets Accounts receivable 22 - - - 1,073 1,073 - 1,073 Other current receivables 22 - - - 41 41 - 41 Current derivatives 22, 29 2 1 4 - - 5 - 5 Cash and cash equivalents 23 - - - 82 82 82 82 Total 1 4 - 1,196 1,201 82 1,201 Non-current liabilities Non-current \ufb01nancial liabilities 12, 27 2,3 - - 2,037 - 2,037 2,035 2,037 Non-current derivatives 24, 29 2 - 336 - - 336 - 336 Total - 336 2,037 - 2,373 2,035 2,373 Current liabilities Current \ufb01nancial liabilities 12, 27 2 - - 288 - 288 288 288 Accounts payable 25 - - 551 - 551 - 551 Other current liabilities 25 - - 9 - 9 - 9 Current derivatives 25, 29 2 2 361 - - 363 - 363 Total 2 361 848 - 1,211 288 1,211 Total \ufb01nancial instruments -1 -692 -2,885 1,415 -2,163 -2,240 -2,163 Total measurement level 1 - - - - - - - Total measurement level 2, assets 1 5 - 219 225 1 225 Total measurement level 2, liabilities -2 -697 -1,825 - -2,524 -1,823 -2,524 Total measurement level 3 - - -500 - -500 -500 -500 OVERVIEW OF FINANCIAL INSTRUMENTS 2023 Amounts in NOK million Note Measure- ment level Financial instruments at fair value through pro\ufb01t and loss Financial instruments at fair value - hedging instruments Financial liabilities measured at amortised cost Deposits and receivables measured at amortised cost Total Of this interest- bearing Fair value Non-current assets Non-current \ufb01nancial receivables 20 2 - - - 184 184 2 184 Share investments 20 1 - - - 28 28 - 280 Non-current derivatives 20, 29 2 - 93 - - 93 - 93 Total - 93 - 212 305 2 305 Current assets Accounts receivable 22 - - - 877 877 - 877 Other current receivables 22 - - - 33 33 - 33 Current derivatives 22, 29 2 4 27 - - 31 - 31 Cash and cash equivalents 23 - - - 469 469 469 469 Total 4 27 - 1,379 1,410 469 1,410 Non-current liabilities Non-current \ufb01nancial liabilities 12, 27 2,3 - - 2,018 - 2,018 2,016 2,018 Non-current derivatives 24, 29 2 - 176 - - 176 - 176 Total - 176 2,018 - 2,194 2,016 2,194 Current liabilities Current \ufb01nancial liabilities 12, 27 2 - - 246 - 246 246 246 Accounts payable 25 - - 560 - 560 - 560 Other current liabilities 25 - - 9 - 9 - 9 Current derivatives 25, 29 2 3 252 - - 255 - 255 Total 3 252 815 - 1,070 246 1,070 Total \ufb01nancial instruments 1 -308 -2,833 1,591 -1,549 -1,791 -1,549 Total measurement level 1 - - - 28 28 - 28 Total measurement level 2, assets 4 120 - 184 308 2 308 Total measurement level 2, liabilities -3 -428 -1,764 - -2,195 -1,762 -2,195 Total measurement level 3 - - -500 - -500 -500 -500 For current assets and liabilities, fair value is estimated close or equal to book value. The bond is determined as measurement level 3. The fair value of the bond is deemed to equal book value. The bond carries \ufb02oating interest terms and the issuer\u2019s credit quality is not considered to have changed since the bond was issued in June 2023. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-445": { "value": "The Group uses the following hierarchy for determining and disclosing the fair value of \ufb01nancial instruments, by valuation technique: Level 1: Quoted market prices in an active market (that are unadjusted) for identical assets and liabilities. Level 2: Valuation techniques (for which the lowest level input that is signi\ufb01cant to the fair value measurement is directly or indirectly observable). Level 3: Valuation techniques (for which the lowest level input that is signi\ufb01cant to the fair value measurement is unobservable). ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-447": { "value": "OVERVIEW OF FINANCIAL INSTRUMENTS 2024 Amounts in NOK million Note Measure- ment level Financial instruments at fair value through pro\ufb01t and loss Financial instruments at fair value - hedging instruments Financial liabilities measured at amortised cost Deposits and receivables measured at amortised cost Total Of this interest- bearing Fair value Non-current assets Non-current \ufb01nancial receivables 20 2 - - - 191 191 1 191 Share investments 20 2 - - - 28 28 - 28 Non-current derivatives 20, 29 2 - 1 - - 1 - 1 Total - 1 - 219 220 1 220 Current assets Accounts receivable 22 - - - 1,073 1,073 - 1,073 Other current receivables 22 - - - 41 41 - 41 Current derivatives 22, 29 2 1 4 - - 5 - 5 Cash and cash equivalents 23 - - - 82 82 82 82 Total 1 4 - 1,196 1,201 82 1,201 Non-current liabilities Non-current \ufb01nancial liabilities 12, 27 2,3 - - 2,037 - 2,037 2,035 2,037 Non-current derivatives 24, 29 2 - 336 - - 336 - 336 Total - 336 2,037 - 2,373 2,035 2,373 Current liabilities Current \ufb01nancial liabilities 12, 27 2 - - 288 - 288 288 288 Accounts payable 25 - - 551 - 551 - 551 Other current liabilities 25 - - 9 - 9 - 9 Current derivatives 25, 29 2 2 361 - - 363 - 363 Total 2 361 848 - 1,211 288 1,211 Total \ufb01nancial instruments -1 -692 -2,885 1,415 -2,163 -2,240 -2,163 Total measurement level 1 - - - - - - - Total measurement level 2, assets 1 5 - 219 225 1 225 Total measurement level 2, liabilities -2 -697 -1,825 - -2,524 -1,823 -2,524 Total measurement level 3 - - -500 - -500 -500 -500 OVERVIEW OF FINANCIAL INSTRUMENTS 2023 Amounts in NOK million Note Measure- ment level Financial instruments at fair value through pro\ufb01t and loss Financial instruments at fair value - hedging instruments Financial liabilities measured at amortised cost Deposits and receivables measured at amortised cost Total Of this interest- bearing Fair value Non-current assets Non-current \ufb01nancial receivables 20 2 - - - 184 184 2 184 Share investments 20 1 - - - 28 28 - 280 Non-current derivatives 20, 29 2 - 93 - - 93 - 93 Total - 93 - 212 305 2 305 Current assets Accounts receivable 22 - - - 877 877 - 877 Other current receivables 22 - - - 33 33 - 33 Current derivatives 22, 29 2 4 27 - - 31 - 31 Cash and cash equivalents 23 - - - 469 469 469 469 Total 4 27 - 1,379 1,410 469 1,410 Non-current liabilities Non-current \ufb01nancial liabilities 12, 27 2,3 - - 2,018 - 2,018 2,016 2,018 Non-current derivatives 24, 29 2 - 176 - - 176 - 176 Total - 176 2,018 - 2,194 2,016 2,194 Current liabilities Current \ufb01nancial liabilities 12, 27 2 - - 246 - 246 246 246 Accounts payable 25 - - 560 - 560 - 560 Other current liabilities 25 - - 9 - 9 - 9 Current derivatives 25, 29 2 3 252 - - 255 - 255 Total 3 252 815 - 1,070 246 1,070 Total \ufb01nancial instruments 1 -308 -2,833 1,591 -1,549 -1,791 -1,549 Total measurement level 1 - - - 28 28 - 28 Total measurement level 2, assets 4 120 - 184 308 2 308 Total measurement level 2, liabilities -3 -428 -1,764 - -2,195 -1,762 -2,195 Total measurement level 3 - - -500 - -500 -500 -500 For current assets and liabilities, fair value is estimated close or equal to book value. The bond is determined as measurement level 3. The fair value of the bond is deemed to equal book value. The bond carries \ufb02oating interest terms and the issuer\u2019s credit quality is not considered to have changed since the bond was issued in June 2023. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "mtpnn45": { "value": "NOTE 20 OTHER ASSETS (NON-CURRENT) Receivables are initially recognised at fair value which is generally the original invoice amount. For trade receivables see Note 22. The interest rate element is disregarded if it is insigni\ufb01cant, which is the case for the majority of receivables. As of 31 December 2024, Borregaard has share investments of NOK 28 million in bio-based start-ups (Lignovations and Oceanium) and other companies. These investments are a result of Borregaard\u2019s business development strategy and complement the existing business portfolio. Amounts in NOK million 2024 2023 Share investments 28 28 Non interest-bearing derivatives (Note 19) 1 93 Receivables interest-bearing (Note 19) 1 2 Receivables non interest-bearing (Note 19) 190 182 Total \ufb01nancial assets 220 305 Net pension plan (Note 10) 184 131 Total other assets 404 436 ", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-448": { "value": "NOTE 20 OTHER ASSETS (NON-CURRENT) Receivables are initially recognised at fair value which is generally the original invoice amount. For trade receivables see Note 22. The interest rate element is disregarded if it is insigni\ufb01cant, which is the case for the majority of receivables. As of 31 December 2024, Borregaard has share investments of NOK 28 million in bio-based start-ups (Lignovations and Oceanium) and other companies. These investments are a result of Borregaard\u2019s business development strategy and complement the existing business portfolio. Amounts in NOK million 2024 2023 Share investments 28 28 Non interest-bearing derivatives (Note 19) 1 93 Receivables interest-bearing (Note 19) 1 2 Receivables non interest-bearing (Note 19) 190 182 Total \ufb01nancial assets 220 305 Net pension plan (Note 10) 184 131 Total other assets 404 436 ", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-453": { "value": "Receivables are initially recognised at fair value which is generally the original invoice amount. For trade receivables see Note 22. The interest rate element is disregarded if it is insigni\ufb01cant, which is the case for the majority of receivables. NOTE 22 RECEIVABLES (CURRENT) Receivables are initially recognised at fair value which is generally the original invoice amount. For trade receivables the Group applies a simpli\ufb01ed approach in calculating expected credit losses. Therefore, the Group does not track changes in credit risk, but instead recognises a loss allowance based on lifetime expected credit losses at each reporting date. The Group has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors speci\ufb01c to the debtors and the economic environment. Current receivables are both operating receivables and interest-bearing receivables. Operating receivables are broken down into trade receivables, accrued advance payments to suppliers and other current receivables. Trade receivables are non interest-bearing and are generally on terms of 30 to 90 days. Amounts in NOK million 2024 2023 Accounts receivable (Note 19) 1,073 877 Non interest-bearing derivatives (Note 19) 5 31 Other current receivables (Note 19) 41 33 Total \ufb01nancial receivables 1,119 941 Advance payment to suppliers/ earned income 301 227 Tax receivables 21 33 Total current receivables 1,441 1,201 CHANGE IN PROVISIONS FOR BAD DEBT: Amounts in NOK million 2024 2023 Provisions for bad debts 1 January 11 9 Bad debts recognised as expense (- income) 6 2 Realised losses - - Translation effects 1 - Provisions for bad debts 31 December 18 11 ACCOUNTS RECEIVABLE HAVE THE FOLLOWING DUE DATES: Amounts in NOK million 2024 2023 Accounts receivable not due 901 752 Overdue receivables 1-30 days 144 105 Overdue receivables 31-60 days 29 15 Overdue receivables 61-90 days 3 4 Overdue receivables over 90 days 14 12 Accounts receivable carrying amount 31 December 1,091 888 ", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-449": { "value": "Receivables are initially recognised at fair value which is generally the original invoice amount. For trade receivables see Note 22. The interest rate element is disregarded if it is insigni\ufb01cant, which is the case for the majority of receivables. Receivables are initially recognised at fair value which is generally the original invoice amount. For trade receivables the Group applies a simpli\ufb01ed approach in calculating expected credit losses. Therefore, the Group does not track changes in credit risk, but instead recognises a loss allowance based on lifetime expected credit losses at each reporting date. The Group has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors speci\ufb01c to the debtors and the economic environment. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-450": { "value": "As of 31 December 2024, Borregaard has share investments of NOK 28 million in bio-based start-ups (Lignovations and Oceanium) and other companies. These investments are a result of Borregaard\u2019s business development strategy and complement the existing business portfolio. Amounts in NOK million 2024 2023 Share investments 28 28 Non interest-bearing derivatives (Note 19) 1 93 Receivables interest-bearing (Note 19) 1 2 Receivables non interest-bearing (Note 19) 190 182 Total \ufb01nancial assets 220 305 Net pension plan (Note 10) 184 131 Total other assets 404 436 ", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-451": { "value": "NOTE 21 INVENTORIES AND COST OF MATERIALS Inventories are measured at the lower of cost and net realisable value. Purchased goods are measured at purchase cost according to the FIFO principle, while internally manufactured \ufb01nished goods and work in progress are measured at production cost. Deductions are made for obsolescence. Net realisable value is the estimated selling price minus selling costs. As of 31 December 2024, there is a total write- Amounts in NOK million 2024 2023 Raw materials 216 184 Work in progress 127 98 Finished goods and merchandise 1,155 1,165 Total inventories 1,498 1,447 down of inventories of NOK 2 million (NOK 14 million) related to inventories measured at net realisable value total NOK 28 million (NOK 201 million). There are no reversed write-downs from earlier years. Amounts in NOK million 2024 2023 Wood costs (Note 28) -783 -630 Energy costs (Note 28) -537 -610 Other materials -1,431 -1,455 Change in work in progress and \ufb01nished goods 19 150 Cost of materials -2,732 -2,545 ", "dimensions": { "concept": "ifrs-full:DisclosureOfInventoriesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-452": { "value": "Inventories are measured at the lower of cost and net realisable value. Purchased goods are measured at purchase cost according to the FIFO principle, while internally manufactured \ufb01nished goods and work in progress are measured at production cost. Deductions are made for obsolescence. Net realisable value is the estimated selling price minus selling costs. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-469": { "value": "CHANGE IN PROVISIONS FOR BAD DEBT: Amounts in NOK million 2024 2023 Provisions for bad debts 1 January 11 9 Bad debts recognised as expense (- income) 6 2 Realised losses - - Translation effects 1 - Provisions for bad debts 31 December 18 11 Credit risk The management of credit risk related to accounts receivable and other operating receivables is handled as part of the business risk but based on guidelines set by Borregaard AS and continuously monitored by the operating entities. There is no signi\ufb01cant concentration of credit risk in respect of single counterparts. A credit management policy is in place. Credit losses are historically modest due to a stable and \ufb01nancially healthy customer base as well as stringent monitoring of trade receivables. See Note 22. For sales to countries or customers associated with high political or commercial risk, trade \ufb01nance products are widely used to reduce credit risk. With these risk mitigation measures in place, the current credit risk is considered to be acceptable. See Note 8 for geographical breakdown of sales revenues. Borregaard considers its credit risk related to other \ufb01nancial instruments to be low. Firstly, only relationship banks act as counterparts for \ufb01nancial hedge transactions. Secondly, bank accounts are mainly held with relationship banks. For deposits of liquidity with other counterparts in countries where relationship banks are not present, Borregaard has requirements relating to the bank\u2019s credit rating. Maximum credit risk The maximum credit exposure for the Group related to \ufb01nancial instruments corresponds to total gross receivables. In the hypothetical and highly unlikely event that no receivables are redeemed, this amounts to: Amounts in NOK million 2024 2023 Cash and cash equivalents 82 469 Accounts receivable 1,073 877 Other current receivables 41 33 Non-current receivables 191 184 Derivatives 6 124 Total 1,393 1,687 Commodity price risk The Group is exposed to price risks in respect of a number of raw materials, of which electric power, lique\ufb01ed natural gas and wood are the most substantial. However, prices of sold products are also affected by raw material prices, and it is generally Borregaard\u2019s policy to reduce the price risk through commercial contracts. ", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-454": { "value": "CHANGE IN PROVISIONS FOR BAD DEBT: Amounts in NOK million 2024 2023 Provisions for bad debts 1 January 11 9 Bad debts recognised as expense (- income) 6 2 Realised losses - - Translation effects 1 - Provisions for bad debts 31 December 18 11 ", "dimensions": { "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-455": { "value": "NOTE 23 CASH AND CASH EQUIVALENTS Cash and cash equivalents are held for the purpose of meeting short-term \ufb02uctuations in liquidity rather than for investment purposes. Cash and cash equivalents consist of cash, bank deposits and current deposits with a maturity of three months or less. Company policy is to channel excess liquidity in wholly owned subsidiaries to Borregaard\u2019s cash pools (with DNB and Handelsbanken) or placed as deposits with Borregaard AS. In some countries, however, there are legal or technical impediments on participation in Borregaard\u2019s cash pools or making deposits with Borregaard AS. Amounts in NOK million 2024 2023 Cash and cash equivalents 82 469 Bank overdraft -85 -40 Net cash and cash equivalents -3 429 Bank deposits of NOK 9 million related to tax deductions from employees are restricted as of 31 December 2024. Borregaard has a bank guarantee for the majority of the tax deductions. As of 31 December 2024, the liability related to tax deductions was NOK 36 million (NOK 34 million). ", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-456": { "value": "NOTE 23 CASH AND CASH EQUIVALENTS Cash and cash equivalents are held for the purpose of meeting short-term \ufb02uctuations in liquidity rather than for investment purposes. Cash and cash equivalents consist of cash, bank deposits and current deposits with a maturity of three months or less. Company policy is to channel excess liquidity in wholly owned subsidiaries to Borregaard\u2019s cash pools (with DNB and Handelsbanken) or placed as deposits with Borregaard AS. In some countries, however, there are legal or technical impediments on participation in Borregaard\u2019s cash pools or making deposits with Borregaard AS. Amounts in NOK million 2024 2023 Cash and cash equivalents 82 469 Bank overdraft -85 -40 Net cash and cash equivalents -3 429 Bank deposits of NOK 9 million related to tax deductions from employees are restricted as of 31 December 2024. Borregaard has a bank guarantee for the majority of the tax deductions. As of 31 December 2024, the liability related to tax deductions was NOK 36 million (NOK 34 million). ", "dimensions": { "concept": "ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-457": { "value": "Cash and cash equivalents are held for the purpose of meeting short-term \ufb02uctuations in liquidity rather than for investment purposes. Cash and cash equivalents consist of cash, bank deposits and current deposits with a maturity of three months or less. Company policy is to channel excess liquidity in wholly owned subsidiaries to Borregaard\u2019s cash pools (with DNB and Handelsbanken) or placed as deposits with Borregaard AS. In some countries, however, there are legal or technical impediments on participation in Borregaard\u2019s cash pools or making deposits with Borregaard AS. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-458": { "value": "Cash and cash equivalents are held for the purpose of meeting short-term \ufb02uctuations in liquidity rather than for investment purposes. Cash and cash equivalents consist of cash, bank deposits and current deposits with a maturity of three months or less. Company policy is to channel excess liquidity in wholly owned subsidiaries to Borregaard\u2019s cash pools (with DNB and Handelsbanken) or placed as deposits with Borregaard AS. In some countries, however, there are legal or technical impediments on participation in Borregaard\u2019s cash pools or making deposits with Borregaard AS. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-460": { "value": "Provisions are recognised in the \ufb01nancial statements in the case of onerous contracts or when restructuring measures have been adopted. Future operating losses will not be part of the provisions. In the case of restructuring provisions, there must be a detailed plan that identi\ufb01es which parts of the business are to be restructured. The location and number of employees affected, and a valid expectation must have been created among those concerned that the restructuring will be carried out. In addition, it must be possible to provide a reliable estimate of the amount of the liability. It is a condition that the restructuring materially changes the size of the business or the way in which it is operated. The provision is calculated on the basis of the best estimate of expenses. If the effect is material, anticipated future cash \ufb02ows will be discounted using a current pre-tax interest rate that re\ufb02ects the risks speci\ufb01c to the provision. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "mtpnn52": { "value": "NOTE 25 OTHER LIABILITIES (CURRENT) Current liabilities are operating liabilities (trade accounts payable, unpaid public taxes/charges, prepaid revenues, other accruals, etc.) and \ufb01nancial liabilities (payable interest). All these items are interest-free borrowings. Dividend does not become a liability before it has been approved by the General Meeting. Amounts in NOK million 2024 2023 Accounts payable (Note 19) 551 560 Derivatives (Note 19) 363 255 Other current liabilities (Note 19) 9 9 Total \ufb01nancial liabilities non interest-bearing 923 824 Value-added tax, employee taxes, etc. 83 78 Accruals 397 458 Total other liabilities 1,403 1,360 ", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-461": { "value": "NOTE 25 OTHER LIABILITIES (CURRENT) Current liabilities are operating liabilities (trade accounts payable, unpaid public taxes/charges, prepaid revenues, other accruals, etc.) and \ufb01nancial liabilities (payable interest). All these items are interest-free borrowings. Dividend does not become a liability before it has been approved by the General Meeting. Amounts in NOK million 2024 2023 Accounts payable (Note 19) 551 560 Derivatives (Note 19) 363 255 Other current liabilities (Note 19) 9 9 Total \ufb01nancial liabilities non interest-bearing 923 824 Value-added tax, employee taxes, etc. 83 78 Accruals 397 458 Total other liabilities 1,403 1,360 ", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-462": { "value": "NOTE 26 CAPITAL MANAGEMENT Borregaard\u2019s \ufb01nancial policy shall ensure short- term and long-term \ufb01nancial \ufb02exibility for the Group. Borregaard aims to maintain key \ufb01nancial ratios corresponding to an investment grade rated company in order to ensure access to debt capital on favourable terms and conditions. Borregaard shall manage \ufb01nancial risks, primarily related to currency \ufb02uctuations in a prudent manner and in accordance with established guidelines. Borregaard shall develop and maintain relationships with a core group of banks, based on long-term \ufb01nancing commitments. Borregaard\u2019s policy for long-term funding is for debt to have an average maturity of at least 2.5 years, with a maturity pro\ufb01le spread over several years. Re\ufb01nancing risk shall be actively managed and the re\ufb01nancing process for maturing loans shall preferably commence at least one year ahead of scheduled maturity. Borregaard shall seek to diversify its long-term funding sources, supplementing bank loans with debt capital markets and other sources, subject to availability and conditions. The company may utilise commercial paper markets and/or short-term bank loans as sources of liquidity, provided that such loans can be substituted by undrawn long- term committed loan facilities. In 2024, Borregaard ASAs issuer rating of A-/ Stable was af\ufb01rmed by Scope Ratings GmbH. The same rating was assigned to the company\u2019s senior unsecured debt. Long-term funding In 2023, Borregaard issued a \ufb01ve-year NOK 500 million unsecured green bond in the Norwegian bond market. A green \ufb01nancing framework, structured in accordance with the 2021 ICMA Green Bond Principles, as well as the 2023 LMA, APLMA and LSTA Green Loan Principles, was established in conjunction with the green bond issue. The net proceeds from the green bond will be used to \ufb01nance or re-\ufb01nance projects and costs de\ufb01ned as eligible under Borregaard's Green Financing Framework. In 2022, Borregaard entered into a USD 50 million sustainability linked term loan with the Nordic Investment Bank (NIB). The loan has a tenor of ten years with a grace period of four years. Borregaard has secured long-term sustainability linked revolving credit facilities totalling NOK 1,500 million, with equal portions of NOK 500 million being provided by each of the three banks (Handelsbanken, DNB and SEB). The facilities mature in 2027. The term loan and credit facilities are linked to Borregaard's sustainability targets and the margins can be adjusted based on the progress on three parameters: Borregaard's 2030 target of reducing greenhouse gas emissions (Scope 1 and 2) as approved by the Science Based Targets initiative in 2019, reduction of the Group's total recordable injuries and \ufb01nally, keeping emissions of organic compounds to the Glomma river below certain levels. All outstanding loans and all other sums due and outstanding must be repaid in full on the termination date speci\ufb01ed for each tranche under the Bank Facilities Agreements. The Bank Facilities Agreements and the term loan agreement with NIB, granted to Borregaard ASA and Borregaard AS on a joint and several basis, are unsecured (negative pledge), but contain a \ufb01nancial covenant and some limitations on new indebtedness beside change of control and cross-default provisions. The \ufb01nancial covenant is as follows: Leverage ratio 1 : the ratio of Net Interest-Bearing Debt 1 to Consolidated EBITDA 1 including other income and expenses 1 , shall not exceed 3.50:1 during the life of the agreements. Partially owned companies including the joint venture or companies whose domestic legislation prevents them from entering into loan agreements with Borregaard AS, will need either to be \ufb01nanced on equal (pro rata) terms by the partners or will have to establish independent funding. In June 2017, LignoTech Florida LLC entered into a USD 60 million loan agreement with SEB. The loan facility is guaranteed 70% by The Norwegian Export Credit Guarantee Agency and has a tenor of 8.5 years from commercial completion of the plant. As of 31 December 2024, the remaining balance of the loan was USD 48.8 million. Furthermore, an overdraft facility of USD 15 million was established to meet short term liquidity needs. The owners of LignoTech Florida (see Note 31) will guarantee the loan and the overdraft facility on a pro rata basis until certain \ufb01nancial conditions are met. As an industrial group, Borregaard is not subject to any external capital requirements. Liquidity and cash management At 31 December 2024, Borregaard had a multi- currency overdraft facility of NOK 125 million linked to its international cash pool with DNB, a NOK 100 million overdraft limit linked to its cash pool (Group account system) with Handelsbanken and an intra-day facility of NOK 75 million with Nordea related to salary payments. Group liquidity shall be managed in cash pools, with Borregaard AS as owner of top accounts and legal counterpart to relevant banks. Group companies shall participate in cash pools to the extent possible, with allocated internal credit lines. Group companies which are prevented from participating in cash pools, shall enter into deposit and/or loan agreements with Borregaard AS and shall aim at keeping locally held cash balances at a near-zero level. Excess liquidity shall primarily be used to repay debt. Alternatively, excess liquidity can be placed with relationship banks or other well-rated banks. Partially owned companies including the joint venture or companies whose domestic legislation prevents them from entering into deposit and/ or loan agreements with Borregaard AS, shall invest surplus cash in low-risk deposits and/or pay dividend. ", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-463": { "value": "NOTE 27 FUNDING AND INTEREST-BEARING LIABILITIES Loans and receivables are carried at amortised cost. Thus, changes in fair value resulting from changes in interest rates during the interest rate period are not reported in the income statement. Borrowing costs related to the long-term funding are capitalised over the period of the loan facilities. Funding Borregaard's main sources of \ufb01nancing are proceeds from its USD 50 million term loan with the Nordic Investment Bank, its green bond issue of NOK 500 million, and its long- term revolving credit facilities totalling NOK 1,500 million from three Scandinavian banks. In June 2017, LignoTech Florida entered into a USD 60 million loan agreement. The loan has a remaining balance of USD 48.8 million at 31 December 2024. To meet short term liquidity needs, an overdraft facility of USD 15 million was established. For liquidity and cash management purposes two multicurrency overdraft facilities totalling NOK 225 million are in place. Book value Fair value Amounts in NOK million 2024 2023 2024 2023 Non-current interest-bearing liabilities Bank loans/bond 1,593 1,548 1,593 1,548 Other interest-bearing liabilities 442 468 442 468 Total non-current interest-bearing liabilities 2,035 2,016 2,035 2,016 Current interest-bearing liabilities Bank loans/overdraft/commercial paper/bond 176 151 176 151 Other interest-bearing liabilities 112 95 112 95 Total current interest-bearing liabilities 288 246 288 246 Total interest-bearing liabilities 2,323 2,262 2,323 2,262 Interest-bearing receivables Non-current interest-bearing receivables 1 2 1 2 Cash and cash equivalents 82 469 82 469 Total interest-bearing receivables 83 471 83 471 Net interest-bearing debt 1 2,240 1,791 2,240 1,791 RECONCILIATION OF LIABILITIES ARISING FROM FINANCING ACTIVITIES 1 January 2024 Cash \ufb02ows Additions/ transfer leases Foreign exchange movement Fair value changes 31 December 2024 Long-term borrowings 2,016 -118 66 71 - 2,035 Short-term borrowings excluding overdraft 206 -32 19 9 - 202 Other instruments - - - - - - Change in net interest-bearing liablities - -150 - - - - Overdraft 40 41 5 - 86 Total liabilities from \ufb01nancing activities 2,262 -109 85 85 - 2,323 RECONCILIATION OF LIABILITIES ARISING FROM FINANCING ACTIVITIES 1 January 2023 Cash \ufb02ows Additions/ transfer leases Foreign exchange movement Fair value changes 31 December 2023 Long-term borrowings 1,370 463 170 13 - 2,016 Short-term borrowings excluding overdraft 579 -473 101 -1 - 206 Other instruments - - - - - - Change in net interest-bearing liablities -10 Overdraft 123 -87 - 4 - 40 Total liabilities from \ufb01nancing activities 2,072 -97 271 16 - 2,262 There were no drawings under the Bank Facilities Agreements as of 31 December 2024. Drawings originating from the bond issue, the term loan with Nordic Investment Bank, and the term loan related to LignoTech Florida amounted to NOK 1,621 million as of 31 December 2024. The maturity pro\ufb01les of the Group\u2019s interest-bearing liabilities are shown in the table below. MATURITY PROFILE INTEREST-BEARING LIABILITIES AND UNUTILISED CREDIT FACILITIES Gross interest-bearing liabilities Unutilised credit facilities Amounts in NOK million 2024 2023 2024 2023 Maturity < 1 year 288 246 310 338 Maturity 1-3 years 788 404 1,500 500 Maturity 3-5 years 738 1,059 - 1,000 Maturity 5-7 years 213 193 - - Maturity > 7 years 296 360 - - Total 2,323 2,262 1,810 1,838 ", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "mtpnn54": { "value": "Loans and receivables are carried at amortised cost. Thus, changes in fair value resulting from changes in interest rates during the interest rate period are not reported in the income statement. Borrowing costs related to the long-term funding are capitalised over the period of the loan facilities. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-464": { "value": "Loans and receivables are carried at amortised cost. Thus, changes in fair value resulting from changes in interest rates during the interest rate period are not reported in the income statement. Borrowing costs related to the long-term funding are capitalised over the period of the loan facilities. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-465": { "value": "NOTE 28 FINANCIAL AND CLIMATE RISKS (I) ORGANISATION OF FINANCIAL RISK MANAGEMENT Borregaard operates internationally and is exposed to \ufb01nancial risks like currency risk, interest rate risk, commodity price risk, climate risk, liquidity risk and credit risk. Borregaard uses derivatives and other \ufb01nancial instruments to reduce these risks in accordance with the Group\u2019s \ufb01nance policy. Responsibility for managing \ufb01nancial risk in Borregaard is divided between business areas, which manage risk related to business processes and corporate functions, which manages risk related to centralised activities like funding, interest rate management, cash management, currency risk management and credit management policy. Borregaard\u2019s CFO and the Group\u2019s Treasury Department are responsible for managing centralised \ufb01nancial risk elements. Financial risks This section describes the most important risk factors within the Group and the management of these risks. In this context, \ufb01nancial risk is de\ufb01ned as risk related to \ufb01nancial instruments. These may either be hedging instruments for underlying risk or viewed as inherently a source of risk. Borregaard is exposed to currency risk for most of its sales, primarily in USD and EUR. A substantial part of this exposure, de\ufb01ned as estimated net cash \ufb02ow in USD or EUR, is routinely hedged on a rolling basis with a nine- month time horizon. In order to secure medium- term competitiveness, the hedging horizon may gradually be extended to three years for a EUR/ NOK hedging rate in the range of 10.50-11.00 and gradually to three years for USD/NOK hedging rates in the 9.50-10.00 range. On the revenue side, all of Borregaard\u2019s business segments are exposed to price risk in international markets. Borregaard is also exposed to price risk on wood, energy (heat energy and electric power) and other strategic raw materials. At the end of 2024 Borregaard has \ufb01ve long- term supply contracts for electric energy to the Sarpsborg site for the period 2025 to 2034: \u2022 Eidsiva Vannkraft, 2.8 TWh for the period 2020 to 2029 with annual deliveries decreasing from 420 GWh to 130 GWh. \u2022 Statkraft, 1.75 TWh for the period 2020 to 2029, with annual deliveries of 175 GWh. \u2022 E-CO Energi, 1.66 TWh for the period 2022 to 2033, with annual deliveries increasing from 88 GWh to 175 GWh. \u2022 \u00c5 Energi, 0,88 TWh for the period 2024 to 2033, with annual deliveries of 88 GWh. \u2022 Hafslund, 0,88 TWh for the period 2025 to 2034, with annual deliveries of 88 GWh. The long-term supply contracts for electric energy are intended for own use and therefore deemed quali\ufb01ed under the own-use exemption. Borregaard also has a hedging strategy which enables hedging of part of its future expected power consumption. The purpose of this hedging is to reduce the risk from volatility in the power prices. (II) CATEGORIES OF FINANCIAL RISKS FOR THE BORREGAARD GROUP Currency risk As NOK is the presentation currency for the Group, Borregaard is exposed to currency translation risk for net investments in foreign operations. Borregaard hedges this category of risk using currency forward contracts for EUR and a mix of forward contracts and loan for USD. Transaction risk is hedged against each entity\u2019s functional currency. Borregaard applies hedge accounting for most hedges of future transactions, either cash \ufb02ow hedges or fair value hedges of \ufb01rm commitments. The different types of hedges are described in Note 29. The Group\u2019s aggregated outstanding currency hedges of future transactions on the balance sheet date are shown in the tables on the next page. FOREIGN EXCHANGE CONTRACTS LINKED TO HEDGING OF FUTURE REVENUES AND COSTS 2024 Amounts in million Purchase currency Amount Sale currency Amount Maturity USD 2 NOK 19 2025 NOK 1,572 USD 158 2025 NOK 1,567 USD 150 2026 NOK 1,086 USD 102 2027 EUR 2 USD 2 2025 EUR 2 NOK 18 2025 NOK 1,365 EUR 125 2025 NOK 1,389 EUR 119 2026 NOK 1,049 EUR 87 2027 SEK 66 NOK 68 2025 2023 Amounts in million Purchase currency Amount Sale currency Amount Maturity USD 2 NOK 19 2024 NOK 1,557 USD 168 2024 NOK 1,572 USD 158 2025 NOK 1,094 USD 106 2026 EUR 1 USD 1 2024 EUR 5 NOK 53 2024 EUR 2 NOK 18 2025 NOK 1,314 EUR 124 2024 NOK 1,365 EUR 125 2025 NOK 973 EUR 83 2026 SEK 48 NOK 48 2024 Interest rate risk Borregaard\u2019s interest rate risk is mainly related to the Group\u2019s interest-bearing liabilities and assets. This risk is managed at parent level. Borregaard shall primarily follow a \ufb02oating rate strategy, but may consider \ufb01xed rates for a maximum of 50% of its debt, using appropriate derivatives. Liquidity risk Liquidity risk is the risk that Borregaard is not able to meet its payment obligations. This risk is managed centrally, but in close concert with affected subsidiaries. Borregaard AS initiates measures deemed necessary to maintain a strong liquidity. Cash \ufb02ow from operations, which among other factors is affected by changes in working capital, is managed operationally at Group level, and is relatively stable. Borregaard monitors liquidity \ufb02ows, short and long-term, through reporting and selected forecasting routines. Due to the aforementioned measures, the Group has limited liquidity risk. The table below shows the maturity pro\ufb01le for the Group\u2019s contractual \ufb01nancial liabilities, including liabilities which are not recognised in the \ufb01nancial position. The amounts represent undiscounted future cash \ufb02ows and may therefore deviate from recognised \ufb01gures. The table also includes derivatives recognised as assets on the balance sheet date, as derivatives may include both positive and negative cash \ufb02ows, and the fair value \ufb02uctuates over time. Forward prices are used to determine the future settlement amounts for electric power and currency derivatives. See Note 29. MATURITY PROFILE FINANCIAL LIABILITIES 2024 Amounts in NOK million Book Value Contractual cash \ufb02ows < 1 year 1-3 years 3-5 years 5-7 years > 7 years Interest-bearing liabilities excluding lease liabilities 1,769 1,769 176 637 674 174 108 Lease liabilities 554 733 143 195 95 65 235 Interest payable bank loans & bonds 9 332 103 161 51 16 1 Accounts payable 551 551 551 - - - - Gross settled derivatives * 693 - - - - - - In\ufb02ow - -9,626 -4,535 -5,091 - - - Out\ufb02ow - 10,319 4,893 5,380 31 6 9 Total 3,575 4,077 1,330 1,282 851 261 353 MATURITY PROFILE FINANCIAL LIABILITIES 2023 Amounts in NOK million Book Value Contractual cash \ufb02ows < 1 year 1-3 years 3-5 years 5-7 years > 7 years Interest-bearing liabilities excluding lease liabilities 1,699 1,699 151 241 990 156 161 Lease liabilities 563 757 127 210 101 63 256 Interest payable bank loans & bonds 9 430 108 192 98 26 6 Accounts payable 560 560 560 - - - - Gross settled derivatives * 307 - - - - - - In\ufb02ow - -9,226 -4,194 -5,025 -2 -2 -3 Out\ufb02ow - 9,533 4,423 5,086 16 8 - Total 3,138 3,753 1,175 704 1,203 251 420 The \ufb01nancial liabilities are serviced by cash \ufb02ow from operations, liquid, and interest-bearing assets, and, when necessary, drawings on unutilised credit facilities. Credit risk The management of credit risk related to accounts receivable and other operating receivables is handled as part of the business risk but based on guidelines set by Borregaard AS and continuously monitored by the operating entities. There is no signi\ufb01cant concentration of credit risk in respect of single counterparts. A credit management policy is in place. Credit losses are historically modest due to a stable and \ufb01nancially healthy customer base as well as stringent monitoring of trade receivables. See Note 22. For sales to countries or customers associated with high political or commercial risk, trade \ufb01nance products are widely used to reduce credit risk. With these risk mitigation measures in place, the current credit risk is considered to be acceptable. See Note 8 for geographical breakdown of sales revenues. Borregaard considers its credit risk related to other \ufb01nancial instruments to be low. Firstly, only relationship banks act as counterparts for \ufb01nancial hedge transactions. Secondly, bank accounts are mainly held with relationship banks. For deposits of liquidity with other counterparts in countries where relationship banks are not present, Borregaard has requirements relating to the bank\u2019s credit rating. Maximum credit risk The maximum credit exposure for the Group related to \ufb01nancial instruments corresponds to total gross receivables. In the hypothetical and highly unlikely event that no receivables are redeemed, this amounts to: Amounts in NOK million 2024 2023 Cash and cash equivalents 82 469 Accounts receivable 1,073 877 Other current receivables 41 33 Non-current receivables 191 184 Derivatives 6 124 Total 1,393 1,687 Commodity price risk The Group is exposed to price risks in respect of a number of raw materials, of which electric power, lique\ufb01ed natural gas and wood are the most substantial. However, prices of sold products are also affected by raw material prices, and it is generally Borregaard\u2019s policy to reduce the price risk through commercial contracts. Climate risk and nature risks Climate and nature risk assessments comply with IFRS S2 and TNFD standards. In the table below, climate and nature risks and opportunities, as described from page 80 in this Annual Report, and in the Climate and Nature Risk Report, are included with current exposure and current price/ level cost. CLIMATE AND NATURE RISKS CURRENT EXPOSURE CURRENT PRICE LEVEL & COST Current and emerging carbon pricing mechanism EU ETS: 105,915 t CO 2 in 2024 CO 2 Tax for waste incineration: 37,748 t CO 2 Emission rights owned 647,269. Scope 3 emissions 487,301 for 2024. EU ETS 85 EUR/t CO 2 , free allowances covers the demand. CO 2 Tax 176 NOK/t CO 2 Increased energy prices Total energy 1,859 GWh, energy from fossil-based sources is 640 GWh (from LNG, light oil and waste), wheras 1,218 GWh is from renewable sources (power supply, biofuel and biogas) of which 779 GWh is from electricity. Long-term power supply contracts. Energy is 9% of total cost in 2024, NOK 537 million. Availability of forest raw material 1 million fm 3 , 95% certi\ufb01ed wood PEFC/FSC \u00ae standard and 100% FSC \u00ae Controlled Wood. Wood 14% of total cost in 2024, NOK 783 million. Physical acute (change in weather conditions) Supply chain/Operations - Challenging river conditions (Rhine and Glomma). Operations: Hurricanes in Florida. Operations: Investigation and measures to reduce risk related to ground conditions due to heavy precipitation, risk of landslide. Remediation of contaminated soil. Costs related to supply chain alternatives not considered to be material. NAT/CAT Insurance in place. Payout related to ground conditions was NOK 24 million in 2024. Accrual related to remediaton of contaminated soil of NOK 30 million in 2024. Physical chronic (sea level rise) Current exposure low, the risk is not likely to have consequence before 2030. N/A CLIMATE OPPORTUNITIES CURRENT EXPOSURE CURRENT PRICE LEVEL & COST Resource ef\ufb01ciency (high utilisation of raw materials/energy) 94% utilisation of wood. Energy conservation program: 21.7 GJ/TAD cellulose in 2024. Average electricity spot price (Oslo region) at 487 NOK/MWh in 2024. Renewable energy (reduced GHG exposure) Total energy 1,859 GWh, 1,218 GWh from renewable sources. CO 2 emissions from energy is the major emissions source - technology are available to invest in more renewable energy solutions to acheive our scienced based emisson targets. Flexibility for variable load (LNG, electricity and light oil). Energy is 9% of total cost in 2024, NOK 537 million. Product and services (Products that replaces fossil based) About 51% (NOK 3.8 billion) of Borregaard\u2019s sales revenues in 2024 came from bio-based products with lower climate/environmental footprint compared with fossil-based products. Sales revenue for bio-based products. Capital markets 82% of long-term \ufb01nancing (including Revolving Credit Facilities) at the end of 2024 had a sustainability linked margin or were issued in accordance with Borregaard\u2019s Green Financing Framework (\u201cgreen \ufb01nancing\u201d). There were indications that the margin on the green bond issued in 2023 got a slight discount compared to a traditional bond issue. However, it is dif\ufb01cult to quantify the exact effect. Resilience 800 different products in numerous applications, reduced exposure to cyclical markets. Markets that will grow or decline due to climate changes are identi\ufb01ed. Average sales price in 2024: BioSolutions products NOK 12,045 per mtds. BioMaterials products NOK 16,343 per mt. Sensitivity analysis The \ufb01nancial instruments of the Borregaard Group are exposed to different types of market risk which can affect the income statement or equity. Financial instruments, in particular derivatives, are applied as means of hedging both \ufb01nancial and operational exposure. In the table below, Borregaard presents a partial analysis of the sensitivity of \ufb01nancial instruments, where the isolated effect of each type of risk on the income statement and on equity is estimated. This is done on the basis of a selected reasonably possible change in market prices/rates on the statement of \ufb01nancial position as of 31 December. According to IFRS, the analysis covers only \ufb01nancial instruments and is not meant to give a complete overview of the Group\u2019s market risk, for instance: \u2022 For currency hedges of contracts entered into, changes in fair value of the hedging instrument will affect the income statement, while changes in the fair value of the underlying hedged contract offset by the hedging instrument will not be shown, as it is not a \ufb01nancial instrument. \u2022 If one of the parameters changes, the analysis will not take into account any correlation with other parameters. \u2022 Financial instruments denominated in the entities\u2019 functional currencies do not constitute any currency risk and are therefore not included in this analysis. Nor is the currency exposure on translation of such \ufb01nancial instruments to the presentation currency of the Group included, for the same reason. \u2022 No sensitivity analysis is performed for the power hedges as the exposure is considered immaterial. Generally, the effect on the income statement and equity of \ufb01nancial instruments in the table below is expected to offset the effects of the hedged items where \ufb01nancial instruments are part of a hedging relationship. SENSITIVITY FINANCIAL INSTRUMENTS 2024 ACCOUNTING EFFECTS ON Income statement of Equity of Amounts in NOK million Increase Decrease Increase Decrease Financial instruments in hedging relationships Interest rate risk (excluding leasing): 100 bp parallel shift in interest curves all currencies -16 16 - - Currency risk: 10% change in FX-rate USD/NOK - - -360 360 Currency risk: 10% change in FX-rate EUR/NOK - - -311 311 Currency risk: 10% change in FX-rate SEK/NOK - - 5 -5 SENSITIVITY FINANCIAL INSTRUMENTS 2023 ACCOUNTING EFFECTS ON Income statement of Equity of Amounts in NOK million Increase Decrease Increase Decrease Financial instruments in hedging relationships Interest rate risk (excluding leasing): 100 bp parallel shift in interest curves all currencies -16 16 - - Currency risk: 10% change in FX-rate USD/NOK - - -339 339 Currency risk: 10% change in FX-rate EUR/NOK - - -290 290 Currency risk: 10% change in FX-rate SEK/NOK - - 4 -4 Accounting effects of changes in market risk are classi\ufb01ed to income statement and equity according to where the effect of the changes in fair value will be recognised initially. Effects recognised in the income statement will also affect equity beyond the \ufb01gures presented in the table. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-466": { "value": "Currency risk As NOK is the presentation currency for the Group, Borregaard is exposed to currency translation risk for net investments in foreign operations. Borregaard hedges this category of risk using currency forward contracts for EUR and a mix of forward contracts and loan for USD. Transaction risk is hedged against each entity\u2019s functional currency. Borregaard applies hedge accounting for most hedges of future transactions, either cash \ufb02ow hedges or fair value hedges of \ufb01rm commitments. The different types of hedges are described in Note 29. The Group\u2019s aggregated outstanding currency hedges of future transactions on the balance sheet date are shown in the tables on the next page. FOREIGN EXCHANGE CONTRACTS LINKED TO HEDGING OF FUTURE REVENUES AND COSTS 2024 Amounts in million Purchase currency Amount Sale currency Amount Maturity USD 2 NOK 19 2025 NOK 1,572 USD 158 2025 NOK 1,567 USD 150 2026 NOK 1,086 USD 102 2027 EUR 2 USD 2 2025 EUR 2 NOK 18 2025 NOK 1,365 EUR 125 2025 NOK 1,389 EUR 119 2026 NOK 1,049 EUR 87 2027 SEK 66 NOK 68 2025 2023 Amounts in million Purchase currency Amount Sale currency Amount Maturity USD 2 NOK 19 2024 NOK 1,557 USD 168 2024 NOK 1,572 USD 158 2025 NOK 1,094 USD 106 2026 EUR 1 USD 1 2024 EUR 5 NOK 53 2024 EUR 2 NOK 18 2025 NOK 1,314 EUR 124 2024 NOK 1,365 EUR 125 2025 NOK 973 EUR 83 2026 SEK 48 NOK 48 2024 Interest rate risk Borregaard\u2019s interest rate risk is mainly related to the Group\u2019s interest-bearing liabilities and assets. This risk is managed at parent level. Borregaard shall primarily follow a \ufb02oating rate strategy, but may consider \ufb01xed rates for a maximum of 50% of its debt, using appropriate derivatives. ", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-468": { "value": "Liquidity risk Liquidity risk is the risk that Borregaard is not able to meet its payment obligations. This risk is managed centrally, but in close concert with affected subsidiaries. Borregaard AS initiates measures deemed necessary to maintain a strong liquidity. Cash \ufb02ow from operations, which among other factors is affected by changes in working capital, is managed operationally at Group level, and is relatively stable. Borregaard monitors liquidity \ufb02ows, short and long-term, through reporting and selected forecasting routines. Due to the aforementioned measures, the Group has limited liquidity risk. The table below shows the maturity pro\ufb01le for the Group\u2019s contractual \ufb01nancial liabilities, including liabilities which are not recognised in the \ufb01nancial position. The amounts represent undiscounted future cash \ufb02ows and may therefore deviate from recognised \ufb01gures. The table also includes derivatives recognised as assets on the balance sheet date, as derivatives may include both positive and negative cash \ufb02ows, and the fair value \ufb02uctuates over time. Forward prices are used to determine the future settlement amounts for electric power and currency derivatives. See Note 29. MATURITY PROFILE FINANCIAL LIABILITIES 2024 Amounts in NOK million Book Value Contractual cash \ufb02ows < 1 year 1-3 years 3-5 years 5-7 years > 7 years Interest-bearing liabilities excluding lease liabilities 1,769 1,769 176 637 674 174 108 Lease liabilities 554 733 143 195 95 65 235 Interest payable bank loans & bonds 9 332 103 161 51 16 1 Accounts payable 551 551 551 - - - - Gross settled derivatives * 693 - - - - - - In\ufb02ow - -9,626 -4,535 -5,091 - - - Out\ufb02ow - 10,319 4,893 5,380 31 6 9 Total 3,575 4,077 1,330 1,282 851 261 353 MATURITY PROFILE FINANCIAL LIABILITIES 2023 Amounts in NOK million Book Value Contractual cash \ufb02ows < 1 year 1-3 years 3-5 years 5-7 years > 7 years Interest-bearing liabilities excluding lease liabilities 1,699 1,699 151 241 990 156 161 Lease liabilities 563 757 127 210 101 63 256 Interest payable bank loans & bonds 9 430 108 192 98 26 6 Accounts payable 560 560 560 - - - - Gross settled derivatives * 307 - - - - - - In\ufb02ow - -9,226 -4,194 -5,025 -2 -2 -3 Out\ufb02ow - 9,533 4,423 5,086 16 8 - Total 3,138 3,753 1,175 704 1,203 251 420 The \ufb01nancial liabilities are serviced by cash \ufb02ow from operations, liquid, and interest-bearing assets, and, when necessary, drawings on unutilised credit facilities. ", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-470": { "value": "DERIVATIVES AND HEDGING 2024 2023 Amounts in NOK million Assets Liabilities Assets Liabilities Cash \ufb02ow hedges Currency forwards, currency swaps 5 610 105 378 Power hedges - - - - Interest swaps - - - - Embedded derivative - 88 9 50 Hedges of net investments Currency forwards, currency swaps - - 6 - Other derivatives - Fair value changes recognised in income statement Currency forwards, currency swaps, options 1 1 4 3 Total derivatives 6 699 124 431 Calculation of fair value \u2022 Currency forwards and currency swaps are measured at fair value using the observed forward exchange rate for contracts with a corresponding term to maturity at the balance sheet date. \u2022 The fair value of currency options is calculated using Garman-Kohlhagen\u2019s version of the Black Scholes Option pricing method, and the variables are based on observed indicative market prices at the balance sheet date. These derivative \ufb01nancial instruments are designated in hedge relationships as follows: Cash \ufb02ow hedges The effective part of changes in the fair value of a hedging instrument is recognised in comprehensive income and reclassi\ufb01ed to the income statement when the hedged transaction affects pro\ufb01t or loss and is presented on the same line as the hedged transaction. The ineffective part of the hedging instrument is reported in the income statement. When a hedging instrument is sold, exercised or terminated, the accumulated gains and losses at this point will remain in hedging reserve of equity and will be recognised in the income statement when the hedged transaction affects pro\ufb01t or loss. The group has established a hedge ratio of 1:1 for the hedging relationship as the underlying risk of foreign exchange are identical to the hedged components. If the hedged transaction is no longer expected to occur, the accumulated unrealised gain or loss recognised in the hedging reserve of equity will be recognised in the income statement immediately. Embedded EUR derivatives in power contracts are designed as hedging instruments to hedge currency \ufb02uctuations of highly probable future sales. In 2024, a loss of NOK 10 million (2023: loss of NOK 7.8 million) was recorded in the income statement as a result of hedging inef\ufb01ciency. All expected cash \ufb02ows which have been hedged during 2024 still qualify for hedge accounting. Hedges of net investments in foreign currencies Currency risk on foreign net investments is hedged with currency forward contracts and currency loans. Realised and unrealised effects of the effective part of the hedging instrument are recognised through comprehensive income. Effects from ineffective parts of the hedging instrument are recognised through pro\ufb01t and loss. The group has established a hedge ratio of 1:1 for the hedging relationship as the underlying risk of foreign exchange are identical to the hedged components. DEVELOPMENT IN THE EQUITY HEDGING RESERVE Amounts in NOK million 2024 2023 Opening balance hedging reserve before tax -607 -410 Reclassi\ufb01ed to P/L - operating revenues (-gain/+loss) 222 50 Reclassi\ufb01ed to P/L - operating costs (-gain/+loss) 1 3 Reclassi\ufb01ed to P/L - net \ufb01nancial income (-gain/+loss) 7 -1 Reclassi\ufb01ed to Balance sheet (-gain/+loss) 2 - Fair value change cash \ufb02ow hedges -611 -216 Change in gain/(loss) on hedges of net investments in subsidiaries -115 -32 Closing balance hedging reserve before tax -1,101 -607 Deferred tax and tax payable hedging reserve 250 141 Closing balance hedging reserve after tax -851 -466 A negative hedging reserve means a negative recognition in the income statement in the future. In 2024, the impact of hedging activities on the operating pro\ufb01t was NOK -365 million (NOK -268 million). The hedging impact from cash \ufb02ow hedges recognised in the equity hedging reserve as of 31 December 2024 are expected to be recycled to the income statement as follows (before tax): 2025: NOK -357 million After 2025: NOK -336 million Fair value hedges Gains and losses on derivatives designated as hedging instruments in fair value hedges are reported in the income statement and are offset by changes in the value of the hedged item. There have not been any signi\ufb01cant fair value hedges in the period 2024-2025. ", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralHedgeAccountingExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-471": { "value": "NOTE 30 EQUITY AND SHARE CAPITAL Borregaard ASA was established on 22 August 2012 with a share capital of NOK 1 million. As part of establishing the Borregaard Group, capital transactions to increase share capital and share premium fund was made. Share capital, share premium fund, other paid-in equity and retained earnings are presented from the establishment of the Borregaard Group in October 2012. Date/year Number of shares Nominal value (NOK) Share capital (NOK million) 31 December 2024 100,000,000 1 100 31 December 2023 100,000,000 1 100 THE 20 LARGEST SHAREHOLDERS AS OF 31 DECEMBER 2024* CONT. Shareholder Number of shares % of capital 1 FOLKETRYGDFONDET 12,015,250 12.02% 2 ERIK MUST 7,252,755 7.25% 3 THE GOLDMAN SACHS GROUP, INC 7,211,277 7.21% 4 IMPAX ASSET MGT 4,860,132 4.86% 5 NORDEA 4,711,459 4.71% 6 PARETO ASSET MGT 4,221,391 4.22% 7 ABRDN PLC 3,997,772 4.00% 8 STOREBRAND INVESTMENTS 3,829,530 3.83% 9 VANGUARD GROUP 3,767,183 3.77% 10 ALFRED BERG 3,562,705 3.56% 11 ODIN FUND MGT 2,718,451 2.72% 12 KLP KAPITALFORVALTNING 2,648,096 2.65% 13 ARCTIC ASSET MGT 2,319,130 2.32% 14 DNB ASSET MGT 2,087,154 2.09% 15 SCHRODERS 1,929,717 1.93% 16 DEGROOF PETERCAM ASSET MGT 1,612,397 1.61% 17 JUPITER ASSET MGT 1,579,493 1.58% 18 JANUS HENDERSON INVESTORS 1,548,776 1.55% 19 DIMENSIONAL FUND ADVISORS 1,072,181 1.07% 20 JUNO INVESTMENT PARTNERS 1,069,225 1.07% Total shares 74,014,074 74.01% * The list of top 20 shareholders is based on information from MUFG Corporate Markets in their capacity as shareholder analysis provider. In preparing this report, MUFG Corporate Markets has used data sourced from third parties. None of the third parties have been involved in the preparation of this report and do not accept any liability for its contents. The information disclosed is factual information only and is not \ufb01nancial product advice. Neither Borregaard, MUFG Corporate Markets or any third party supplier of data accepts any responsibility for any investment decision or action taken or not taken as a result of this report. TREASURY SHARES OWNED BY BORREGAARD ASA Nominal value (NOK) Number of shares Fair value (NOK million) 1 January 2023 434,553 434,553 66 Exercise of share options in 2023 -354,050 -354,050 - Shares to employees -169,213 -169,213 - Purchase/Buy-back of treasury shares 525,570 525,570 - 31 December 2023 436,860 436,860 75 Exercise of share options in 2024 -344,450 -344,450 - Shares to employees -166,605 -166,605 - Purchase/Buy-back of treasury shares 522,974 522,974 - 31 December 2024 448,779 448,779 82 ", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-472": { "value": "Borregaard ASA was established on 22 August 2012 with a share capital of NOK 1 million. As part of establishing the Borregaard Group, capital transactions to increase share capital and share premium fund was made. Share capital, share premium fund, other paid-in equity and retained earnings are presented from the establishment of the Borregaard Group in October 2012. Date/year Number of shares Nominal value (NOK) Share capital (NOK million) 31 December 2024 100,000,000 1 100 31 December 2023 100,000,000 1 100 THE 20 LARGEST SHAREHOLDERS AS OF 31 DECEMBER 2024* CONT. Shareholder Number of shares % of capital 1 FOLKETRYGDFONDET 12,015,250 12.02% 2 ERIK MUST 7,252,755 7.25% 3 THE GOLDMAN SACHS GROUP, INC 7,211,277 7.21% 4 IMPAX ASSET MGT 4,860,132 4.86% 5 NORDEA 4,711,459 4.71% 6 PARETO ASSET MGT 4,221,391 4.22% 7 ABRDN PLC 3,997,772 4.00% 8 STOREBRAND INVESTMENTS 3,829,530 3.83% 9 VANGUARD GROUP 3,767,183 3.77% 10 ALFRED BERG 3,562,705 3.56% 11 ODIN FUND MGT 2,718,451 2.72% 12 KLP KAPITALFORVALTNING 2,648,096 2.65% 13 ARCTIC ASSET MGT 2,319,130 2.32% 14 DNB ASSET MGT 2,087,154 2.09% 15 SCHRODERS 1,929,717 1.93% 16 DEGROOF PETERCAM ASSET MGT 1,612,397 1.61% 17 JUPITER ASSET MGT 1,579,493 1.58% 18 JANUS HENDERSON INVESTORS 1,548,776 1.55% 19 DIMENSIONAL FUND ADVISORS 1,072,181 1.07% 20 JUNO INVESTMENT PARTNERS 1,069,225 1.07% Total shares 74,014,074 74.01% * The list of top 20 shareholders is based on information from MUFG Corporate Markets in their capacity as shareholder analysis provider. In preparing this report, MUFG Corporate Markets has used data sourced from third parties. None of the third parties have been involved in the preparation of this report and do not accept any liability for its contents. The information disclosed is factual information only and is not \ufb01nancial product advice. Neither Borregaard, MUFG Corporate Markets or any third party supplier of data accepts any responsibility for any investment decision or action taken or not taken as a result of this report. ", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-473": { "value": "TREASURY SHARES OWNED BY BORREGAARD ASA Nominal value (NOK) Number of shares Fair value (NOK million) 1 January 2023 434,553 434,553 66 Exercise of share options in 2023 -354,050 -354,050 - Shares to employees -169,213 -169,213 - Purchase/Buy-back of treasury shares 525,570 525,570 - 31 December 2023 436,860 436,860 75 Exercise of share options in 2024 -344,450 -344,450 - Shares to employees -166,605 -166,605 - Purchase/Buy-back of treasury shares 522,974 522,974 - 31 December 2024 448,779 448,779 82 ", "dimensions": { "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-474": { "value": "NOTE 31 NON-CONTROLLING INTERESTS As of 31 December 2024, non-controlling interests consist of LignoTech Ib\u00e9rica SA and LignoTech Florida LLC. Borregaard owns 60% of LignoTech Ib\u00e9rica located in Spain and 55% of LignoTech Florida located in USA. In 2020, LignoTech Ib\u00e9rica lost its local lignin source when Sniace's cellulose business went bankrupt and had to close. Production at the lignin plant was discontinued and liquidation will be \ufb01nalised in 2025. The entities are fully consolidated into the Borregaard Group\u2019s \ufb01nancial statements and minority interests are recognised. As of 31 December 2024, current assets were NOK 204 million (NOK 149 million) in LignoTech Florida and non-current assets amounted to NOK 840 million (NOK 825 million). Current liabilities were NOK 273 million (NOK 230 million) and non- current liabilities amounted to NOK 718 million (NOK 694 million). LignoTech Florida had a loss for the year of NOK -3 million in 2024 (NOK -42 million). Amounts in NOK million 2024 2023 Changes in non-controlling interests: Non-controlling interests 1 January 39 51 Non-controlling interests\u2019 share of pro\ufb01t/loss 6 -14 Translation differences, etc. 4 2 Non-controlling interests 31 December 49 39 ", "dimensions": { "concept": "ifrs-full:DisclosureOfNoncontrollingInterestsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-475": { "value": "NOTE 32 PLEDGES AND GUARANTEES In 2017, LignoTech Florida LLC (55% owned by Borregaard) entered into a USD 60 million loan agreement as well as a USD 15 million overdraft facility. The owners will guarantee the loan and the overdraft facility on a pro rata basis until relevant \ufb01nancial conditions are met. As of 31 December 2024, USD 48.8 million of the facility was drawn. See Note 26 and 31. ", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-477": { "value": "NOTE 34 GOVERNMENT GRANTS Government grants are recognised in the \ufb01nancial statements when there is a reasonable assurance that the requirements of the grants will be complied with and that the grants will be received. Grants related to income are presented as reduction of expenses they are intended to compensate for. Government grants that relate to assets are recognised as a reduction in the acquisition cost of the asset. The grant reduces the depreciation of the asset. Borregaard recognised NOK 120.8 million in government grants in 2024 (NOK 108 million) 3 . Of this amount, NOK 119.3 million was recognised as reduced expenses (NOK 103 million), while NOK 1.5 million was recognised as a reduction of the acquisition cost of the asset concerned (NOK 5 million). The grants are provided by the Norwegian government and the US government mainly for research and development projects, environmental investments and CO 2 compensation. The current regulation on CO 2 compensation for industrial enterprises for the period 1 January 2021 to 31 December 2030 was approved during the 4 th quarter of 2022. Borregaard is also in line with the effect of the regulation from 2025. Of the recognised government grants of NOK 120.8 million (NOK 108 million), NOK 97.8 million was related to CO 2 compensation (NOK 73 million). ", "dimensions": { "concept": "ifrs-full:DisclosureOfGovernmentGrantsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-478": { "value": "Government grants are recognised in the \ufb01nancial statements when there is a reasonable assurance that the requirements of the grants will be complied with and that the grants will be received. Grants related to income are presented as reduction of expenses they are intended to compensate for. Government grants that relate to assets are recognised as a reduction in the acquisition cost of the asset. The grant reduces the depreciation of the asset. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGovernmentGrants", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-479": { "value": "NOTE 35 ENVIRONMENT, HEALTH AND SAFETY MATTERS A provision is recognised when the Group has a present obligation (legal or constructive) following a past event, it is probable that an out\ufb02ow of resources embodying economic bene\ufb01ts will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation. When a provision is measured using the cash \ufb02ows estimated to settle the present obligation, its carrying amount is the present value of the cash \ufb02ows. Environment, Health and Safety issues (EHS): Sulphur dioxide (SO 2 ) is one of the most important chemicals used in the production processes at Borregaard. There are several EHS regulations to secure safe operations, a safe working environment and low emissions to the environment. The use of SO 2 has been regulated for many years, but the authorities both in the EU and in Norway have enhanced the regulations during the last years and new demands are coming. Borregaard decided to introduce new technology to substantially reduce the amount of SO 2 stored at the plant in Sarpsborg in order to further improve safety. The majority of the installation was done in 2020 and \ufb01nalised in 2022. Technology for recovery and scrubbing of emissions will be installed in different process areas during the next years, as well as measures to reduce the exposure to SO 2 in the working environment. In 2024, there were two hourly exceedances of local air quality, compared to four in 2023. One exceedance was caused by a failure in the scrubber absorption system and one from a valve leakage. Reductions in COD e\ufb04uents: Borregaard has submitted a long-term plan for reduction of COD to water to the Norwegian Environmental Authorities. The plan includes several measures including recipe and process optimisation and technical installations such as spill collection and evaporation. The goal is to reduce COD emissions to a level below 47 tonnes per day in 2026. The emissions of COD increased by 9% in 2024 compared with the all-time-low level in 2023. The increase is mainly due to lower performance in the wastewater treatment system. Improvements are expected in 2025. Chlor-alkali plant: From 1949 to 1997, Borregaard used mercury-based technology for chlor-alkali production at the site in Sarpsborg. This process led to pollution of the soil in the area surrounding the plant. In 1994, a ground water barrier was built and a water monitoring programme was established. The concentration of mercury in ground water wells and in the sewage system is continuously monitored in close co-operation with the authorities to secure stable and acceptable mercury levels. The mercury level decreased in 2024 and was below 1 kg/year, well below the permitted level of 3 kg/year. Borregaard has performed a study investigating how to increase emission barriers further and has decided to extend the water barrier to secure stable mercury levels at acceptable risk. An accrual of NOK 30 million was made as of 31 December 2024 to increase the emission barriers further. Ground conditions: In 2022, a provision of NOK 20 million was made related to ground conditions at the site in Norway. Implementation of the measures started in 2023 and will be fully implemented in 2025. An additional accrual of NOK 6.5 million was made in 2023 related to the work. The work has been delayed due to weather and water conditions and it has led to accruals of NOK 13.5 million in 2024 for expected additional costs. ENVIRONMENTAL ACCRUALS Amounts in NOK million Chlor-alkali plant Ground conditions Total Accrual 1 January 2023 - 20 20 Additional accruals in 2023 - 7 7 Utilisation in 2023 - -5 -5 Accrual 31 December 2023 - 22 22 Additional accrual in 2024 30 13 43 Utilisation in 2024 of initial accrual - -24 -24 Accrual 31 December 2024 30 11 41 Borregaard\u2019s site in Norway has several areas that are de\ufb01ned as polluted by the Norwegian Environment Agency, due to former operations. Borregaard's future costs for environmental remediation depends on a number of uncertain factors, such as changes in regulations or approval from authorities for the extent of actions. Monitoring of contaminated areas will continue to con\ufb01rm that implemented measures are suf\ufb01cient, and if not suf\ufb01cient, additional costs will incur. Conditions which could require future expenditures may be determined to exist for various sites, including Borregaard\u2019s major production facilities and warehouses. NOTE 36 UNCERTAINTY IN GLOBAL ECONOMY War and con\ufb02icts in Ukraine and the Middle East as well as uncertainty in the global economy may impact Borregaard\u2019s markets and costs. Borregaard will continue to closely monitor markets and costs development and implement relevant measures if required. See Note 28 for \ufb01nancial risks. ", "dimensions": { "concept": "ifrs-full:DisclosureOfAdditionalInformationExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "reg-ix-480": { "value": "NOTE 37 OTHER MATTERS AND SUBSEQUENT EVENTS Borregaard to participate in Alginor capital raise Borregaard will co-invest with existing shareholders, Must Invest and Hatteland Group, in a direct offering of new shares in Alginor, amounting to NOK 100 million. Additionally, the same three shareholders will underwrite a subsequent rights issue for NOK 50 million, with subscription rights extended to all other shareholders. Depending on the outcome of the subsequent rights issue, Borregaard's equity contribution will range from NOK 55 to 83 million, corresponding to an ownership share of between 36% and 43% in Alginor. Including this equity raise, Borregaard's total investments in Alginor will increase to between NOK 474 and 502 million. See noti\ufb01cation to the Oslo Stock exchange on 17 March 2025. Shares to employees: As part of the employee share programme, Borregaard has sold a total of 170,744 shares to employees in February 2025. The share price was NOK 147.65 per share including a 25% discount. Costs in 2025, including administration costs, related to the employee share programme amount to approximately NOK 9.6 million. For more details, see noti\ufb01cations to the Oslo Stock Exchange on 3, 10 and 28 February 2025. Share options issued: In February 2025, 398,000 share options at a strike price of NOK 221.22 were granted under the long-term incentive programme. The options will expire after \ufb01ve years, the vesting period is three years and the options may be exercised during the last two years. For more details, see noti\ufb01cation to the Oslo Stock Exchange on 14 February 2025. There have been no events after the balance sheet date that would have had a material impact on the \ufb01nancial statements, or the assessments carried out. ", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXGYXC05", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } } } }